VietNamNet Bridge – Prime Minister Nguyen Tan Dung requested ministries, sectors and localities not shirking from the goals of containing inflation and stabilising the macro-economy as they are decisive preconditions for realising other goals.

An overview of the meeting. (Photo: VNA)

Making the request at the Government’s monthly regular meeting for May in Hanoi on May 26, he also underscored the need to achieve a sustainable growth rate to avoid generating inflation hike and impacts on the economic restructuring process.

According to the cabinet members, in the first five months of the year, all levels and branches have actively implemented solutions issued by the Party Central Committee, the National Assembly and the Government.

As a result, the country’s macro-economy was kept going in a right direction with inflation put under control, prices stabilised relatively, and lending interest rate slashed.

In May, CPI saw a light decrease of 0.06 percent from the previous month, becoming the second month of the year enjoying a minus CPI growth.

Meanwhile, exports turnover in the first five months totalled 49.94 billion USD, up 15.1 percent against the same period last year, and registered FDI was estimated at 8.52 billion USD, representing an 8.9 percent year on year rise.

Social security continued to be ensured and the life of people, particularly the poor, ethnic minorities and unemployed ones was paid due attention.

These gains, however, unveiled problems facing the national economy, said the cabinet members.

The agriculture, forestry, aquaculture and industry and construction sectors are grappling with difficulties. Livestock, poultry and fish farming declined while industrial production, especially processing and manufacturing, slowly recovered due to reducing purchase power.

Besides, the differential between mobilising interest rates and lending ones was slowly narrowed. Restructuring commercial banks, settling non-performing loans in the banking system and removing obstacles to the real estate were slow.

To deal with these existing matters, the cabinet members suggested being more drastic in solving difficulties and promoting production and business.

In the short term, they said, it is necessary to recheck and timely adjust unsuitable mechanisms and policies.

Investment and trade promotion activities should be improved further while restructuring public investment, State-owned enterprises and credit organisations should be speedy.

They also proposed paying greater attention to vocational training, and job and income generation for labourers, especially rural workers and those from dissolved enterprises.

They also suggested increasing investment for the public healthcare, strengthening control and prevention of epidemic diseases on humans and crop plants and livestock.

PM Dung instructed ministries, sectors and localities to continue following closely the goals set forth in the resolutions adopted by the Party Central Committee, the National Assembly, and the Government.

He requested them drastically take measures to ensure information and security and web safety and propose punishments against the misuse of the Internet to blacken, slander and distort the country’s situation, harming people’s interest.

At the same time, PM Dung asked his cabinet members to proactively provide the media with objective and accurate information in all fields to create a consensus in the public in realising the set goals.

At a press briefing held later on the day, Minister and Chairman of the Government Office Vu Duc Dam said the government always watches for risks of inflation and also deflation.

“The Government persistently presses ahead with stabilising the macro-economy, curbing inflation and making a reasonable economic growth rate,” Dam said.

Source: Vietnam Plus