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Gov’t continues focus on curbing inflation


05/08/2008 -- 9:41 PM



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Hanoi (VNA) – The Government continues with its efforts to tame inflation in the remaining months of this year and targets a GDP growth rate of 7 percent.

At the July regular meeting on August 5 chaired by Prime Minister Nguyen Tan Dung, cabinet members agreed to continue with the government’s tough monetary control policy, measures to ensure the liquidity of the national economy and removal of loan-related difficulties for production and exports.

PM Dung asked for a doubling of efforts to narrow the trade deficit, pointing to raising import tariffs on commodities such as CBU cars, automobile components, gold, cosmetics, and mobile phones alongside monitoring closely loans in foreign currencies for exports.

He requested relevant ministries and agencies continue implementing a social welfare policy for poor ethnic minority people, war invalids, families of fallen soldiers and those who have rendered services to the nation.

The PM made the request as in the meantime the country is still struggling against high trade deficit, unstable monetary and financial market, impacts from petroleum price hikes, and plant and animal diseases.

According to the Ministry of Planning and Investment, the Finance Ministry and the General Statistics Office, the industrial production value rose 16.4 percent to reach 382 trillion VND in the past seven months.
The country raked in 36.87 million USD in export earnings, a year-on-year rise of 37.7 percent.

Meanwhile imports had a year-on-year surge of 56.8 percent, totaling 51.9 million USD and causing a trade deficit of more than 15 billion USD.

Foreign direct investment reached 45.2 billion USD in the reviewed period, a rise of 373 percent from last year.

The consumer price index rose 1.13 percent in July over June and 19.78 percent from last year.

In the past seven months, 92,000 people gained employment and 50,000 people were sent to work abroad.-Enditem

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