PM orders maintaining macro-economic stability

Prime Minister Pham Minh Chinh speaks at the Government meeting on April 29. (Photo: VNA)

Prime Minister Pham Minh Chinh emphasised specific tasks for maintaining macro-economic stability, controlling inflation and managing monetary and fiscal policies flexibly while addressing a regular Government meeting in Hanoi on April 29.

Pointing out positive signs in April, the PM said the macro-economy has remained stable with major economic balances ensured, while national defence and security have been safeguarded and external relations enhanced.

He noted anti-corruption, communications, institutional building and law enforcement efforts, saying that people’s material and spiritual lives have been ensured and their trust in the Party and State consolidated and enhanced, while Vietnam’s reputation and position in the international arena have improved.

Achievements recorded last month and in the first four months of this year have created a foundation for the country to recover and grow, the PM said.

However, challenges still remain, such as risks to major economic balances, pressure on increasing inflation, bad debts, financial risks, slow public investment disbursement, and sluggish implementation of the socio-economic recovery and development programme, he said.

Chinh said major tasks and solutions set out in the programme should be rolled out concertedly to benefit people and businesses. He ordered the establishment of a steering committee for the implementation of the programme and assigned specific tasks to deputy prime ministers.

He also laid emphasis on the need to effectively deploy policies in support of interest rates and develop the capital market transparently, safely and sustainably.

Efforts should be made to push ahead with the disbursement of public investment, especially official development assistance (ODA) and foreign preferential loans, while reviewing pending projects.

Ministries, agencies and localities were asked to remove obstacles to production and business, fine-tune administrative procedures, keep a close watch on market developments, ensure goods circulation, and adopt solutions to cope with natural disasters.

He also urged them to keep a close eye on the global economy, particularly inflation and prices of fuel and strategic materials, and set out suitable scenarios to manage domestic production and ensure a supply-demand balance and price stability.

The PM urged the tourism recovery and prompt completion of preparations for the 31st Southeast Asian Games (SEA Games 31), which are expected to help Vietnam promote its image to the region and the world.

Chinh also mentioned tasks in national defence and security, external affairs and communications.

The socio-economic situation showed positive signs in April, with the consumer price index (CPI) up 2.64 percent year-on-year, the lowest level compared with the previous period since 2017, and State budget collection up 13.3 percent.

This month’s industrial production expanded 2 percent month-on-month and 9.4 percent year-on-year. The value in the first four months increased 7.5 percent. Meanwhile, exports in the four months were up 16.4 percent, while imports were up 15.7 percent, with a trade surplus of about 2.5 billion USD.

The number of international tourists in April increased 5.2 times and in the four months rose 184.7 percent year-on-year./.