Deputy PM Hue calls for action to keep inflation in check

Tuesday, 2017-04-18 09:41:49
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Deputy PM Vuong Dinh Hue
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NDO - Deputy Prime Minister Vuong Dinh Hue urged ministries and local authorities to take necessary action to ensure that overall inflation for 2017 is contained at under 4%.

Speaking at a meeting of the National Steering Committee on Price Regulation on April 17, he said that relevant agencies should work closely to reduce the pressure on price increases and take advantage of market forces to drive down prices.

The deputy PM asked the State Bank of Vietnam to continue a flexible monetary policy and stabilise interest rates so that core inflation could be brought down to 2% to have room for public service price adjustments this year.

He requested the Ministry of Industry and Trade to work with the Ministry of Finance to calculate the impacts of domestic fuel price hikes and finalise different scenarios for electricity price increases.

Meanwhile, the Ministry of Health was asked to take into account the prices of petrol and other goods when considering raising healthcare service costs to achieve the overall inflation target of 4%.

Deputy PM Hue noted that the health ministry must consistently pursue the goal of bringing down drug prices by 10-15% in 2017 to lay the conditions for the next phase of medical cost hike next year.

He also asked the Ministry of Agriculture and Rural Development to boost production and closely monitor the price developments of key agricultural products such as rice, pork, sugar and salt.