Gov’t determined to balance supply, demand during Tet

The government is determined to curb inflation, stabilize macro-economy, and ensure a balance in supply and demand during the Tet festive season.

The government is determined to ensure a balance in supply and demand during the Tet festive season

At a monthly cabinet meeting presided over by Prime Minister Nguyen Tan Dung on December 2 in Hanoi, participants said that socio-economic performance in first eleven months of the year and in November showed positive signs with continued stability and lower inflation.

The country’s Consumer Price Index in November surged 0.34 percent and increased 5.5 percent in first eleven months of the year, the lowest level in ten recent years.

Industrial production showed recovery, especially in the processing and manufacturing sector and exports leaped by 16.2 percent.

These figures show that the country’s general economy is starting to look better.

However, the government admits there is still a risk that inflation will re-occur with high rate of bad debts and weak purchase and supply of commodities. Accordingly, the government should implement measures to curb inflation during the Tet festive season when prices usually go up.

To conclude the meeting, PM Nguyen Tan Dung said in the first eleven months of the year and in November, there has been a steady improvement in socio-economic performance with stable macro-economy and controlled inflation. It will hence be possible to maintain GDP growth by 5.4 percent this year.

PM Dung asked related agencies to continue to carry out measures to control inflation and ensure balance between supply and demand of commodities during the Tet holiday season, especially on agricultural produce. He also asked ministries, agencies and localities to practice thrift and fulfill this year's State budget plan.

Concerning hydropower projects, PM Dung requested relevant agencies to update information on the operations of 268 active plant reservoirs as well as pay attention to resettlement of people and deforestation.

By Phan Thao - Translated by Uyen Phuong

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