Vietnam PM Urges GDP Growth of 5 per cent, Inflation at 7 per cent in 2009
Prime Minister Nguyen Tan Dung has called for all-out efforts to achieve GDP growth of 5 per cent or more and to tame inflation at 7 per cent this year, the government of Vietnam said on July 8.
Chairing an online government meeting July 6 and 7, PM Dung pushed ministries, provincial and municipal authorities, effectively, to adopt the stimulus packages aimed at boosting domestic and export demands and to attract investments.
The government will not narrow beneficiaries, which enjoy soft loans with the 4 per cent government subsidized interest rate.
Mr. Dung asked for flexible and cautious monetary policies to stabilize the domestic market while capping inflation at 7 per cent to 8 per cent this year.
Between Jan and June, total loans for Vietnam’s economy jumped 17.01 per cent, much lower than the cap of 30 per cent set for the year.
“A top task now is to stimulate the domestic demand and effectively disburse government spending for infrastructure projects,” Minister of the Government Office, Nguyen Xuan Phuc, told a press conference.
Vietnam’s economy grew 4.5 per cent in the second quarter, up from only 3.1 per cent in the first, and expanded 3.9 per cent in the first half. (chinhphu.vn, Vietnam Economic Times)
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