Ministry sets inflation target of below 3.9 percent in H2
Thursday, July 19,2018AsemconnectVietnam - The Ministry of Finance (MoF) must apply measures to curb year-on-year inflation in 2018 at below 3.7-3.9 percent, said Deputy Prime Minister Vuong Dinh Hue.
Speaking at a MoF meeting in Hanoi on July 18 – on reviewing the State budget in the first half of this year and setting forth tasks for the remaining months – the official stressed the need to closely monitor the prices of essential goods, especially during the time natural disasters and floods.
Hue, who is also head of the Government’s Steering Committee on Price Management, urged relevant agencies to take the initiative in price management, especially those prices of goods under State management.
According to the MoF’s Department of Price Management, over the past two months, domestic prices were greatly affected by the global rise in oil and gas prices, as well as regional rises in rice and pork prices.
Given this context, the ministry proposed some specific measures to stabilise the market and control inflation.
The timely implementation of social welfare policies have helped raise pubic confidence in the leadership of the Party and the Government, said Minister of Finance Dinh Tien Dung.
The Price Management Department said there are potential risks to the consumer price index (CPI) for the last six months of this year, calling for cautious steps in price management and inflation control.
The MoF will continue its close coordination with other ministries and agencies in implementing the Government’s guidelines on inflation control, as well as instructions from the Steering Committee on Price Management.
More attention will be paid to goods and services whose prices are decided by the State, or those purchased from the State budget, national stockpiled products, and goods and services for public interests.
Any violations should be punished strictly in line with legal regulations and every effort to hike prices irrationally should be prevented, heard the meeting.
The ministry will also join hands with the Ministries of Industry and Trade, and Agriculture and Rural Development to manage the prices of oil and gas, and farm produce for the time to come.
At the meeting, the MoF also reported that between January and June, it conducted 22 inspections and proposed financial settlements totaling 1.91 trillion VND (82.13 million USD).
Hue, who is also head of the Government’s Steering Committee on Price Management, urged relevant agencies to take the initiative in price management, especially those prices of goods under State management.
According to the MoF’s Department of Price Management, over the past two months, domestic prices were greatly affected by the global rise in oil and gas prices, as well as regional rises in rice and pork prices.
Given this context, the ministry proposed some specific measures to stabilise the market and control inflation.
The timely implementation of social welfare policies have helped raise pubic confidence in the leadership of the Party and the Government, said Minister of Finance Dinh Tien Dung.
The Price Management Department said there are potential risks to the consumer price index (CPI) for the last six months of this year, calling for cautious steps in price management and inflation control.
The MoF will continue its close coordination with other ministries and agencies in implementing the Government’s guidelines on inflation control, as well as instructions from the Steering Committee on Price Management.
More attention will be paid to goods and services whose prices are decided by the State, or those purchased from the State budget, national stockpiled products, and goods and services for public interests.
Any violations should be punished strictly in line with legal regulations and every effort to hike prices irrationally should be prevented, heard the meeting.
The ministry will also join hands with the Ministries of Industry and Trade, and Agriculture and Rural Development to manage the prices of oil and gas, and farm produce for the time to come.
At the meeting, the MoF also reported that between January and June, it conducted 22 inspections and proposed financial settlements totaling 1.91 trillion VND (82.13 million USD).
Source: Vietnamplus.vn
Trade revenue in August and first eight months of 2023
Good news for Vietnam’s tra fish exports to US
2 export items increased "billion dollars" in turnover in 8 months
DAILY: Vietnamese pepper prices remained unchanged on September 21
DAILY: Vietnamese coffee prices fell by 500 VND on September 21
Ministry projects three economic growth scenarios for 2024
Hanoi focuses on building rice trademark
Exports of wood and wood products to India grew by 3 digits
Fertilizer imports in August reached highest level in more than 2 years
PM calls on US semiconductor firms to invest more in Vietnam
Banks lower deposit interest rates to COVID-19 levels
Vietnam steel market update: Price decreased slightly
Vietnam fruit market update: Fruit and vegetable exports nearly 60%
DAILY: Vietnamese pepper prices remained unchanged on September 20
Plan on implementing national strategy on climate change ...
Actively and effectively adapting, reducing vulnerability, loss and damage due to climate change; reduce greenhouse gas emissions ...Scheme on attracting, restructuring and improving quality ...
Urban development plan of Binh Phuoc province in a period ...
Plan on implementing Decision No. 327/QD-TTG dated March ...
Hung Kings Temple Festival 2023 kicks off
The Hung Kings Temple Festival 2023 and the Culture and Tourism Week of Ancestral Land 2023 kicked off in the northern province of Phu Tho ...Vietnam trounce Palestine at AFC U-17 Women's Asian ...
Phu Tho: Festival honours UNESCO intangible cultural ...
Saigontourist Group Food and Culture Festival 2023 opens
Vietnam’s top swimmer Huy Hoang to hold Vietnamese flag at ...