Posted on 23 Sep 2008
Prime Minister Ngyen Tan Dung has highlighted inflation growth of just 0.18 per cent in September, limiting the nine month consumer price index to 21 per cent, saying
The PM told foreign economists at a discussion held in Ha Noi on Saturday that these achievements were the initial result of the Government’s eight-solution package implemented over the last six months.
"In the wake of world economic crisis since early April, the Vietnamese Government has immediately refocused on inflation control instead of high economic growth by cutting the growth target to between 6.5 and 7 per cent from 8-8.5 per cent for 2008 and 2009," he explained.
Dung said the Government would continue tightening its monetary policy in a flexible way to ensure liquidity as well as the fiscal policies to decrease State investments in an effort to achieve its inflation control target. "Measures will be taken to boost exports, which should be considered a key solution to trade deficits," he continued.
The Vietnamese Government will further speed up administrative reforms and human resource development while intensifying investments in infrastructure, said the Prime Minister.
The one-day discussion was attended by economic experts from 16 international institutions, including Benedict Bingham, senior resident representative from the International Monetary Fund, and John Hendra, the United Nations Development Programme’s Country Co-ordinator.
Also present were economists from the German Agency for Technical Co-operation, the World Bank, the Asian Development Bank and the Hongkong and Shanghai Bank Corporation.
