Enhance the management and stability of market prices for the end of 2016 and Lunar New Year 2017

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Photo: H. Van

In the Dispatch, the Ministry of Finance said that: From the beginning of 2016 until now, the Government, the Prime Minister and Ministries, Departments and Localities have drastically directed and deployed the measures set by the Government in Resolutions at the regular session. Thus, the socio-economic status of the first ten months of 2016 had positive outcomes: macroeconomics are basically stable creating favorable conditions for business and production development.

However, from now to the end of 2016, there are many pressures on price operation because of increase of consumption demand in the lunar New Year; erratic weather movements affecting food prices; recovery trend of the world’s oil prices and increase of health service prices in some localities under the market roadmap.

Besides, accelerating public investment projects and the delay of credit policies are expected to affect the inflation situation. Consequently, the price operation for the last months of 2016 should be done carefully and tightly to control inflation in accordance with set targets.

In order to implement the target of inflation control in 2016 and control the consumer price index below 5%, the Ministry of Finance suggested that localities should direct the local Financial Departments, Industry and Trade Departments and functional departments, branches and businesses to review and evaluate the demand and supply of goods and services in the localities for the last months of 2016 and Lunar New Year 2017

Furthermore, localities should proactively build plans to ensure the demand-supply balance, focus on necessary goods and services to directly meet the people’s needs and carry out the market pricing stability to a price in compliance with the local real status to prevent the shortage of goods and price escalations that cause local price increases in the holidays and Lunar New Year.

Localities affected by flood should take measures to stabilize the price in time as described in the Price Law for necessary goods in the localities. Together with that, the People’s Committees should actively closely monitor the performance of market prices and the consumer price index (CPI) in the localities (especially in the localities where CPI of the first ten months of 2016 increased higher than the country’s average CPI)

On the other hand, the Ministry also recommended that the People’s Committees of provinces and cities should keep directing the enhancement of inspection, investigation of observation of law on price in the localities; strictly punish organizations and individuals who violated or abused the peak period to increase prices and costs arbitrarily and illegally or simultaneously while prices in reality do not have much fluctuation.

The Government has directed the market stability for the end of 2016 VCN- Ensuring pricing stability and bank liquidity, not increasing the price of electricity, and health service charges ...

Strictly control price measures and prices for goods and services valued by the State; goods and services ordered for plans by the State; goods and services bought by the local budget or goods and services subsidized on freight and price under authorization, and thoroughly evaluate the impact of price adjustment (if any) on socio-economic status and the local CPI to issue reasonable adjustment measures and the roadmap to avoid adjustment at the same time causing the increase of CPI.