Macro-economic stabilization tops tasks for 2013
Macro-economic stabilization tops tasks for 2013
Macro-economic stabilization and inflation curbing will continue to be priority tasks of the Government in 2013.
This is part of a draft Resolution on key solutions to social-economic development tasks and State budget estimates in 2013 presented on December 25 by Deputy PM Nguyen Van Ninh at a videoconference between the Government and authorities of localities nationwide.
The draft Resolution points out nine top tasks for the Government in 2013.
Regarding the first group of solutions, the Government is asked to direct the State Bank of Viet Nam to employ cautious and effective monetary policy through flexibly and efficiently utilizing monetary policy instruments and closely combining it with fiscal policy to rein in inflation, strengthen macro-economic stability and ensure appropriate GDP growth rate.
Deposit and lending interest rates will be regulated in line with macro-economic performance, inflation curbing goal, growth rate target as well as the liquidity and operation of credit institutions in the economy.
Meanwhile, exchange rates will be regulated in line with market indicators and the gold market will be put under control to ensure the balance of international payments and increase foreign reserves.
The Ministry of Finance will work with relevant ministries, agencies and localities to conduct the tight fiscal policy in favor of increasing tax collection, minimizing spending and reducing State budget overspending.
The Ministry of Planning and Investment, related ministries, localities, and agencies strengthen the management of State budget and Government bonds, prioritize financial resources for urgent and effective projects and suspend inefficient projects.
The Government will also focus on the second group of solutions to resolve difficulties for production and accelerate business.
Accordingly, ministries, agencies and localities will take steps to assist enterprises in terms of preferential credit and interest rates, lower lending interest rates, settlement of bad debts in credit institutions, State-budget debts in enterprises as well as cross debts.
Particularly, the Ministry of Industry and Trade is responsible for working with relevant ministries, agencies and localities to support businesses to get out of difficulties, develop markets, boost sales and handle high inventories, especially steel, cement and building materials.
Besides these above solutions, in 2013, the Government will instruct ministries, agencies and localities to deploy seven others including speeding up strategic breakthroughs in line with economic restructuring and shifting of growth model; ensuring social security, social welfare, improving living standards for people; strengthening State management of land, natural resources, protecting the environment, preventing natural disasters and adapting to climate change; accelerating the administration reform, upholding people’s ownership rights; preventing corruption and waste; ensuring social order and building social life; ensuring national defense, security and political stability and enhancing foreign relations.
The Government will issue the Resolution after collecting comments from Cabinet members and local leaders.
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