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PM warns of inflation risks

VGP – Prime Minister Nguyen Xuan Phuc called for smooth coordination of policy and communication to ease existing inflation pressure as he concluded the Cabinet meeting on Friday.

Growth rate of key indicators in the first five months of 2019 as reported by the General Statistics Office

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He warned of the possibility that the consumer price index may surpass 4% this year, reaffirming the Government’s determination to keep inflation rate under 4%.

The Government chief also warned of external risks and tasked the Ministry of Industry and Trade to continue closely monitoring and fully evaluating the impacts of the US-China trade tensions to develop proper responses.

The State Bank of Viet Nam was asked to design proper interventions based on closely following and assessing the impacts of the global financial situations on exchange and interest rates, continue to increase foreign reserve to deal with external shocks.

Phuc also tasked the National Advisory Council on Financial and Monetary Policies to increase discussions on global situations.

Emphasizing macroeconomic stability as a top priority, PM Phuc said rapid-fire increases of public services must not be allowed in favor of inflation control./.

By Thuy Dung

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