Vietnam sets priority on curbing inflation, stabilizing macro-economy

Vietnamese Prime Minister Nguyen Tan Dung released his evaluation report on Friday after government's regular monthly meeting, praised initial results of the implementation of the government's resolutions on curbing inflation and stabilizing macro-economy in the first five months of 2011.

The report said after the government's measures on tightly controlling credit, gold and USD market and slashing public investment, the country's industrial production and export turnover continued to increase during the period as well as the people's living conditions, especially of those poor and needy people.

According to the report, the foreign exchange market showed positive signs; state banks bought more foreign currencies from the people and businesses, the interest rate in the market gradually decreased.

Vietnam's total export turnover in May reached 34.7 billion U.S. dollars, up 32.8 percent year-on-year, up three folds over the planned target. The consumer price index (CPI) in May increased 2. 21 percent, 12.07 percent against that in last December. Average CPI in the first five months increased 15.09 percent year-on-year.

Vietnam will continue making priority over curbing inflation and stabilizing macro-economy, trying to control inflation rate at 15 percent, GDP growth of 6 percent and budget deficit below 5 percent this year. Implementation of the government's Resolution No. 11 continues to be strictly implemented, Dung said.

Vietnamese government's regular monthly meeting was held on June 1-2. During the meeting, participants discussed the government's draft resolutions on the state administration renewal during 2011-2020, on global economic integration enhancement during 2011-2015 and vision to 2020, among other issues.
(Source:http://news.xinhuanet.com)