Monitoring Needed to Curb Inflation: Economist Says

Ways to limit inflation include tight monitoring of public spending and improving salary policy. These measures will reduce state spending and money entering the market, said Dr. Tran Dinh Thien, head of the Vietnam Institute of Economics. 

Dr. Tran Dinh Thien, head of the Vietnam Institute of Economics

Dr. Thien said the government should monitor investment projects to limit unnecessary spending.
The government has to be strict in assessing and approving projects. An independent organization must be set up to evaluate the effectiveness of investment projects, he added.
Essential, unfinished projects must come into operation. It is wasteful if such projects are left unfinished, he said.
Regarding salary policy, Mr. Thien said the government’s recent policy on raising salaries is a response to soaring prices. However, those who work effectively should be offered a higher raise and unnecessary positions should be streamlined.
Some governmental organizations have spent too much money on meetings and administration, he added.

By Anh Phuong – Translated by Yen Chuong

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