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Gov’t determine to curb inflation below 4 percent this year

access_time Apr 18,2017 chat_bubble_outline 48 views
Deputy Prime Minister Vuong Dinh Hue yesterday stressed the determination of curbing inflation rate below 4 percent as per the target set by the National Assembly and fully exploiting factors to lower service and goods prices.

Gov’t determine to curb inflation below 4 percent this year

The Ministry of Health has increased health check and treatment service prices since March.

He was quoted as speaking at a meeting of the National Steering Committee on Price Management to review operations in the first quarter and direct management coordination in the rest nine months.


Mr. Hue required relevant agencies to stabilize exchange rate and deposit as well as loan interest rates and not to increase interest rates to efficiently conduct price management operations this year.


The State Bank of Vietnam should keep core inflation rate of below 1.8 percent instead of 2 percent to create room for public service price changes this year.


The Ministry of Industry and Trade should work with the Ministry of Finance to calculate the impact of petrol price adjustment in domestic market.


They should count the timing of using petrol price subsidization fund especially in the phase of adjusting the price of other commodities. The former one should complete power price management scenario.


The Ministry of Health should base on prices of petrol and other commodities to change health check and treatment fees to ensure the inflation control target.


Deputy PM Vuong Dinh Hue required the Ministry of Transport to tightly control management of air tickets, aviation service and seaport fees; soon change toll levels of BOT (Build-Operate-Transfer) projects which have drawn the balance sheet this year.


According to the ministry’s representative, it is going to report fee cut at 41 toll stations to the Government. The ministry does not agree with the proposal by some airlines to impose floor airfares.


Mr. Hue prompted the Ministry of Health to complete legal framework and put medicine prices out to tenders in May at the ministry and Vietnam Social Insurance Agency. The ministry should be consistent to obtain the target of reducing medicine prices by 10-15 percent in 2017.


The Ministry of Agriculture and Rural Development has been required to intensify agricultural production, strive for the industry’s growth rate of 2.8 percent to gain supply initiative and keep a close eye on the market of important farm produce such as rice, pork, sugar and salt.


Reports at the meeting show that consumer price index (CPI) increased 4.96 percent in the first quarter compared to the same period last year. The growth rate reduced month by month with 0.46 percent in January, 0.23 percent in February and 0.21 percent in March compared to the previous month.


In March, the Ministry of Health’s increase in health check and treatment fees in 13 provinces and cities contributed 0.38 percent to the CPI hike. Other 14 provinces and cities plan to raise the fees this year.


Deputy Minister of Education and Training Pham Manh Hung said that provincial and municipal people’s councils had passed tuition fee increase by 5 percent in 2017-2028 academic year. The ministry would coordinate with localities to instructing schools not to push up other fees.


Deputy Governor of the State Bank of Vietnam Dao Minh Tu affirmed that the bank is attempting to stabilize deposit and loan rates of commercial banks and curb the core inflation rate at below 2 percent this year.


Deputy Minister of Information and Communications Pham Hong Hai said that 4G service fee will reduce 40-50 percent. The fee will depend on the number of customers.


Meantime, deputy Minister of Industry and Trade Ho Thi Kim Thoa said that petrol prices had been managed in harmony with market signals. In addition, the petrol price subsidization fund now remains VND2 trillion (US$87.94 million). The ministry will calculate parameters to update power price scenario.


Cuisine culture in the Plain of Reeds

The gastronomy of the south and the Plain of Reeds in particular was created and enriched during the centuries-old history of the region. The dishes are simple but reflect the local lifestyle. The Plain of Reeds is blessed with diverse flora and fauna. Because it’s a submerged region, the Plain of Reeds has an abundance of fish and the locals are masters in cooking fish dishes. Pham Van Tran, a culture and tourism researcher in Dong Thap province, said, “The Plain of Reeds is a basin. Local… chat_bubble_outline Read More...

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WASHINGTON (AP) — President Donald Trump has barred all refugees from entering the United States for four months, and indefinitely halted any from Syria, saying the ban is needed to keep out "radical Islamic terrorists."The order Friday immediately suspended a program that last year resettled in the U.S. roughly 85,000 people displaced by war, political oppression, hunger and religious prejudice. Trump indefinitely blocked those fleeing Syria, where a civil war has raged, and imposed a 90-day… chat_bubble_outline Read More...

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Derailed freight train near Washington, D.C., leaks hazardous liquid

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Gov’t to aid tourism recovery in central Vietnam

VietNamNet Bridge – Deputy PM Vuong Dinh Hue has promised help from the Government for the tourism sector in the central provinces hit hard by the Formosa environmental disaster. A tourist rides a zipline across Chay River to Toi Cave in Quang Binh Province. Of the four provinces affected by the toxic aftermath of untreated wastewater being illegally discharged into the sea by the Formosa Plastics Group plant, tourism was hit hardest in the central province of Quang Binh. — VNA/VNS Photo Manh… chat_bubble_outline Read More...

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