>> Monetary policy on track for success
Tight monetary and fiscal policies will be prioritised in 2012 in order to continue taming inflation, stabilise the Vietnam dong and heighten foreign currency reserves, said Prime Minister Nguyen Tan Dung.
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| Vietnam expects 6.5% GDP growth next year |
The PM requested ministries, agencies and state-owned enterprises (SOEs) to draw out development plans and budget estimates for next year.
He called for tighter management of the banking system, foreign currency and gold markets in a bid to prevent risks, decrease bad debts and ensure liquidity and the stability of financial institutions.
Drastic measures should be applied to tighten control and ensure transparency in budget spending and public investment, with due attention paid to government bonds and projects undertaken by SOEs, he noted.
Greater efforts must be made to devise methods to lower government overspending, while maintaining Government debts, public debt and national foreign debt at acceptable levels, in order to ensure national financial security, he emphasised.
He requested that measures to balance the supply and demand of goods, along with strict price supervision be further developed.
The country will reduce exports of crude and unprocessed materials, together with minimising the importation of non-staple consumer goods.
The country plans to attain a GDP growth rate of around 6.5% in 2012.
