Price control in spotlight at cabinet meeting

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Báo Tuổi Trẻ English - 50 month(s) ago 11 readings 3 duplicate news

Chairing a cabinet meeting Saturday to discuss socio-economic developments in Hanoi, Prime Minister Nguyen Tan Dung asked ministries to focus on price control, especially keeping close eye on prices of daily life necessities, medicines and milks.

Vietnamese Prime Minister Nguyen Tan Dung Photo: VNA

For the last two coming months this year, the government leader pointed out a need to continue executing the monetary policy in a flexible and cautious way, especially in handling the exchange rates and supervising the gold and foreign exchange markets, to meet targets for development and inflation control.

Dung also attached importance to administrative reforms, anti-corruption combat, social security and traffic safety.

Reviewing national developments in the first 10 months of the year, he praised ministries for fulfilling most of their targets despite global economic crisis and severe natural disasters.

Industrial production increased 13.7 percent in the last ten months to over VND645 trillion (roughly US$32.25 billion). Agricultural production kept stable while services recorded a high growth rate.

Export revenues were posted at $6.25 billion in October, bringing the total revenue in the first 10 months to $57.8 billion, representing an increase of 23.3 percent year on year.

Consumer price index (CPI) in October climbed up slightly 1.05 percent over the same period last year and lower than September’s 1.31 percent.

Destructive floods in the central region last month caused a total damage of VND11.64 trillion ($582 million). The government spent $36.5 million to supply 14,000 tons of rice for flooded areas.

Cabinet members admitted that the nation is facing a threat of inflation, skyrocketing gold prices and volatile exchange rates in the last two coming months this year.

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