Prime Minister renews calls to ensure macroeconomic stability

Update: September, 03/2015 - 08:50

HA NOI (VNS) — Prime Minister Nguyen Tan Dung reiterated Viet Nam's commitment to stabilising the macro economy, maintaining tight control on inflation and nurturing economic growth at a meeting held on Monday and Tuesday in Ha Noi.

Inflation remained below one per cent, while monthly revenues to the State budget surpassed their target, thanks to a 16 per cent increase in domestic tax collection, said minister of planning and investment Bui Quang Vinh.

He said that GDP growth in 2015 would be 0.2 per cent higher than the original target of 6.2 per cent, and that total exports would rise 10 per cent.

The PM agreed with the cabinet's appeal to maintain macroeconomic stability, a prerequisite for rapid and sustainable development. Measures will be put in place to raise exports by 10 per cent and push the trade deficit down to five per cent and bad debts to below three per cent.

He said the business climate should be improved by fine-tuning regulations and restructuring the economy with a focus on agriculture, state-owned enterprises and the banking system.

Regarding poverty reduction and social welfare, more attention will be paid to vocational training, the manpower market and public healthcare, he said.

Hailing reforms in education and training, the PM said recent high school graduation examinations had met expectations, with the results being used as the basis for entering university. He asked the education and training ministry to learn from flaws in the first stage of university admissions and improve during the second stage.

He said ministries, agencies and localities should strengthen national security and maintain political security, social order and safety.

In regard to the 2016 socio-economic development plan, the PM gave his opinion on targets for economic growth, exports, social investment and budget overspending, as well as environmental targets.

Deputy Prime Minister Vu Van Ninh, ministries and concerned agencies were all asked to consider state budget estimates for 2016 and the 2016-2020 period, including the possibility of selling part of the State's stake in corporations and groups and the raising of the minimum wage.

The leader said there should be continued examination of the total capital amount based on set regulations for the 2016-2020 public investment plan.

Sixteen national target programmes for the 2016-2020 period will be reduced to two that will focus on sustainable poverty reduction and new rural construction. Sixty-one target programmes initiated by ministries and agencies will be cut to 21 to avoid overlapping.

Turning to a proposal to increase the pension of low-income earners who retired prior to April 1993, the PM said the National Wage Council and the National Steering Committee on Salary Reform would carefully consider the matter.

The government also discussed a report on land use till 2020 and several bills at the meeting.

In the follow-up conference, Minister and Chairman of the Office of the Government Nguyen Van Nen said the PM instructed sectors to keep a close eye on regional and global economic situations, especially of China, and to work out scenarios for a prompt response.

The government would not revise the socio-economic targets set earlier, Nen said, adding that 13 of the set 14 socio-economic objectives for the year would be achieved. — VNS