State continues to stabilise macroeconomy
Stabilising the marcoeconomy, containing inflation and controlling the trade deficit and trade balance are essential if the economy is to boost development in the future.
This was the common opinion shared by most National Assembly (NA) deputies in an interview granted to VOVNews.
Vu Viet Ngoan: vice chairman of the NA’s Economic Committee: Stabilising macroeconomy helps to control inflation.
Vu Viet Ngoan
The Government’s guidelines and the State Bank of Vietnam (SBV)’s management have ensured the currency market and exchange rates have been kept stable in recent months and the interest rate fir Vietnamese Dong is dropping.
The Government set a target for economic growth of 6.5 percent this year. It is estimated that this year’s inflation rate will be higher than last year’s at around 8 percent. If the inflation rate is 6.5-7 percent, the State will tighten up its monetary policy, which will impede business operations.
Despite the fact that the interest rate at times touched 17-18 percent, it currently stands at 10-11 percent, which will help to contain inflation. To maintain this interest rates should be kept at 9-10 percent.
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| Nguyen Duc Kien |
In 2009, the Government introduced many social welfare policies, such as adjusting salaries, social allowances, support for redundant workers, plus help for the poor, social policy beneficiaries and those living in disadvantage areas.
In 2010, the Government is prioritising measures to stabilise the macroeconomy and contain inflation to help develop the economy.
Le Van Cuong: member of the NA’s Committee on Science Technology and Environment and deputy head of the Thanh Hoa delegation.
Le Van Cuong
I totally agreed with the Government’s economic proposals. I paid a lot of attention to the Prime Minister’s directive that authorises preferential loan rates to enterprises and individuals to help them start up, maintain or develop their businesses.
According to a report on the implementation of the 2010 plan for socio-economic development and State budget spending, the Government wants to step up production and investment to obtain a GDP growth rate of 6.5 percent. I think that the GDP growth rate must be in line with the State budget’s management, and ensure social welfare.