Monday, 03 July 2017 20:53

    Keeping inflation below 4% is achievable: Deputy PM

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    he target of keeping the country’s inflation below 4 per cent in 2017 is quite feasible, said Deputy Prime Minister Vương Đình Huệ at a meeting late last week.

    Speaking at the meeting held to better implement price management in the second half of the year, Huệ said that while managing the consumer price index (CPI), relevant ministries and agencies must keep track of and support the country’s economic growth target, and avoid triggering high inflation in the future.

    To meet the goal, Huệ said the ministries and agencies must keep abreast of demand and supply, and avoid imposing administrative procedures so that gradually, the price of essential public services can be modified based on the market price roadmap.

    Huệ instructed the State Bank of Việt Nam to devise monetary policies accordingly, and be flexible. These policies must complement fiscal policies to ensure inflation stays under check, he said.

    The lending interest rate policy must be mapped out based on market development so as to support economic growth, he said.

    The deputy PM has asked the Ministry of Industry and Trade (MoIT) to work in conjunction with the Ministry of Finance (MoF) to manage petroleum prices according to the market mechanism, under State management based on Decree 83/2014/NĐ-CP, with reasonable use of the petroleum pricing stabilisation fund.


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