Government discusses macro-economy

Prime Minister Nguyen Tan Dung chaired a meeting with representatives of several ministries and agencies on August 25 to evaluate impacts of the world’s fast-changing economy on the domestic economy.

 

Reports presented at the event analysed and made proposals for the issues regarding the sharp decline in global oil price as well as unexpected development of stock markets, adjustments of international currencies following China’s yuan devaluation as well as forex rate of countries worldwide.

 

Photo for Illustration (Photo: Thai Thien).

Delegates said that the initial response and solutions are timely and suitable, but they stressed the need to keep a close watch on changes of the world economy, then swiftly putting forth solutions in order to limit its adverse impacts and extract advantages.

The Ministry of Finance affirmed that with the current global oil price, State budget collection has still been ensured and is expected to fulfil the set target of 8 percent.

 

The State Securities Commission and relevant ministries also affirmed that the stock market will recover in the coming time and welcome new flows of currencies.

 

Regarding the interest and forex rate, Governor of the State Bank of Vietnam Nguyen Van Binh said there is no reason to continue devaluating the Vietnam dong.

 

The participants said with such moves over the past time, Vietnam has till controlled the macro-economy, growth rate, inflation, State budge collection, import-export activities and production.

 

Addressing the event, Prime Minister Nguyen Tan Dung lauded efforts of ministries in keeping close watch on the general situation as well as their close coordination in proposing timely solutions, which helped to keep the macro-economic and socio-economic targets on right track.

 

However, he held that due to unexpected changing world situation and its impact to Vietnam, it is crucial to stay active in dealing with difficulties and challenges and opimising new opportunities.

 

He asked ministries and agencies to continue keeping a close eye on developments and prepare measures for the worse situation.

 

He also requested for the provision of smooth and updated information as well as forecast and solutions to people and enterprises for high consensus.

 

The PM also directed ministries and agencies to stay firm with set targets, with macro-economic stability being the utmost goal.

 

Meanwhile, it is necessary to better control the exchange rate and interest rate, while enhancing measures to manage the securities market, aiming for increased income and reduced expenditure, he said.

 

At the same time, he also asked for more efforts in boosting production, business and investment, especially in oil and gas sector, together with stronger measures to increase exports, reduce imports, and combat smuggling and trade fraud.