Inflation to be curbed below 4%: Deputy PM

7/11/2018 - 10:03:21 AM

There are many tools and the necessary space to control inflation below 4% this year, said Deputy Prime Minister Vuong Dinh Hue at the meeting of the Government's Steering Committee on Price Management held in Hanoi on July 10.

Deputy PM Vuong Dinh Hue speaks at the meeting (photo: VGP)

According to the Deputy PM, the consumer price index (CPI) for June increased by 0.61% over the previous month, mainly attributed to a hike in the price of pork, was not extraordinary.

Moreover, the rise of 0.61% is within the forecast by the Steering Committee on Price Management, the Government official noted.

He affirmed that the CPI increase in June was driven by higher prices of pork and transport services, saying that excluding the short-term factor of pork prices, inflation in June was only 0.27%, the lowest level in many years.

Average CPI in the January-June period went up by 3.29% compared to the same period last year, putting pressure on the target of keeping the average CPI for 2018 below 4% as set by the National Assembly. It will be a big challenge for the Government, Hue noted.

However, the Government will take all necessary measures until the end of this year to restrict average inflation to below 4% to contribute to macro-economic stability, he affirmed.

At the meeting, the Deputy PM also asked the Ministry of Agriculture and Rural Development to put forth directions for the management of pork prices in the remaining months of the year.

It is also advisable to calculate the supply and demand of food and essential goods for the last six months of this year as about 10 typhoons are forecast to hit Vietnam during this period.

Source: NDO

Starting business from hometown specialty

Appreciating the abundant potential and strengths of his hometown for tourism development, Ha Cong Hung, Deputy Secretary of the youth union of Mai Chau district’s Mai Hich commune, embarked on producing smoked meat with a desire to introduce his homeland's specialty to domestic and international tourists.

Huge potential to boost chilli export to RoK

Hoa Binh farmers are investing big in their chilli pepper cultivation areas after the first batch of 7.5 tonnes of pickled chilli peppers was shipped to the Republic of Korea (RoK) by Tien Ngan Trade and Investment Co., Ltd last month.

Hoa Binh improves effectiveness of collective economy

Recognising the role and importance of developing the collective economy, the northern province of Hoa Binh has promptly issued support policies to propel the development of the economy, making important contributions to local socio-economic development.

PM attends groundbreaking ceremony for electronic PCB factory in Hoa Binh

Prime Minister Pham Minh Chinh attended a groundbreaking ceremony for an electronic printed circuit board (PCB) factory at Da River Left Bank Industrial Park in Hoa Binh province on April 13. The electronic PCB factory is invested by Japan's Meiko Group at a total cost of 200 million USD.

In the first quarter, the total capital of the credit institutions was estimated at 40,128 billion VND

In the first quarter of 2024, the credit institutions in the province have actively deployed the legal documents of the State and the State Bank relating to currency, credit and interest rates. At the same time, they have promoted the capital mobilization, focusing on the solutions to expand the credit investment along with strengthening the credit quality management, lending to priority programs to promptly meet the capital needs for export - business and consumer demand during Tet in 2024.

Lac Son - attractive destination for investors

Outside the key economic region of Hoa Binh, yet Lac Son district has utilised its potential and strengths regarding labour, land, and transportation connectivity to attract investment to the locality, contributing to promoting socio-economic development.