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THE PRIME MINISTER
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SOCIALIST REPUBLIC OF VIETNAM
Independence Freedom Happiness
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No. 319/TTg-KTTH
Re: intensification of inflation control measures in 2008
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Hanoi, March 03, 2008
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To:
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- The State Bank of Vietnam
- Ministries of Finance, Planning and Investment, Industry and Trade, Construction
- State Securities Commission of Vietnam.
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Considering the report No. 98/NHNN-VP.m dated 27 February 2008 of the National Consultant Council of monetary, financial policies on the assessment to the implementation of the said policies in the first two months of 2008 and managing solutions in the coming months, opinions of Deputy Prime Ministers, Ministries, Industries and concerned agencies at the Governments Standing Meeting held on 28 February 2008, the Prime Minister would like to provide his opinions as follows:
1. To agree with assessments, forecasts and some suggestions relating to the solutions for the management of monetary, financial policies mentioned in the above mentioned report of the National Consultant Council of monetary, financial policies. The management of monetary, financial policies in the first two months of 2008 takes place in the situation that the prices of energy, raw materials and food in the world continue to increase, the US economy and the world economy decline, which strongly affects our economy. Although the Prime Minister has directed Ministries, Industries, localities to manage measures of controlling price, inflation since the early year, actually, the consumer price index in the first two months keep increasing at high ratio (6.02%), which is a big challenge for the implementation of planned targets of growth and inflation in 2008.
2. In the rest months of 2008, the world market price would probably keep increasing and shall cause strong effect to the inflation and socio economic development of our country. In order to well implement targets of the 2008 socio economic plan in general, it is requested for Ministries, industries, localities to concentrate on, coordinate in conducting the good implementation of measures of controlling inflation, price increase, in parallel with the production promotion, ensuring macroeconomic stability.
