Vietnamese Prime Minister Nguyen Tan Dung yesterday requested ministries and agencies to take drastic measures to stabilize macro economy and curb inflation next year, the government said on its website.
Dung made the request at a monthly cabinet meeting in Hanoi Dec 29, where also he asked for special attention to the monetary and financial policies.
The PM stressed the importance of the year of 2011 as it is the first year for the realization of the 2011-2015 socio-economic development plan, calling for more synchronous measures to gradually reduce public investment.
He reminded the State Bank of Vietnam to learn from its mistakes in executing the monetary policy in order to better control the payment instruments and credits as well as manage the foreign exchange and gold markets.
Dung asked ministries to enhance inspection and surveillance over development investment and speed up construction of major works to put them into operation on schedule.
Vietnam has already weathered the global financial crisis, with the gross domestic product growing 6.78% this year, higher than the National Assembly’s full-year target of 6.5%.
Financial and political analysts, however, said the Vietnamese Government, led by PM Dung, has failed to secure the macroeconomic stability as the country still confronts soaring inflation, high deficit, a weakening currency and falling foreign exchange reserves.
The consumer price index surged 11.75% in 2010, exceeding the full-year target of 7%, the analysts said, attributing that “the problems are symptomatic of Vietnam’s rapid growth.”
They have questioned a growth strategy that has relied on low-cost labor and resource industries, and have called for reforms in the state sector whose inefficiencies were captured by the Vinashin scandal. (chinhphu.vn)
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