The Government will focus on keeping macroeconomic stability and curbing inflation in 2011 in an effort to overcome weaknesses and navigate issues, said PM Nguyễn Tấn Dũng.

The PM stressed this at the last regular meeting of the Cabinet in the year, aiming to review the socio-economic performance and management work in 2010 and put forwards top tasks for next year.

The Government will focus on keeping macroeconomic stability and curbing inflation in 2011 in an effort to overcome weaknesses and navigate issues, said PM Nguyễn Tấn Dũng.

PM Nguyễn Tấn Dũng presides over the Government’s December 2010 regular meeting, Hà Nội, December 29, 2010 – Photo: VGP/Nhật Bắc

The PM stressed this at the last regular meeting of the Cabinet in the year, aiming to review the socio-economic performance and management work in 2010 and put forwards top tasks for next year.

Monetary and financial policies must be paid due care, the Government chief said.

He stressed the important significance of the year of 2011, as it is the first year for the realization of the 2011-2015 socio-economic development plan. He called for more synchronous measures to gradually reduce public investment while encouraging more social investment, prioritizing social welfare and key projects.

The PM asked the Cabinet to thoroughly review the reasons for failing to achieve the set targets of inflation control and poor performance of some sectors.

He also emphasized the necessity for accurate forecasts, information dissemination, and policy building, particularly for those sectors that are lack of good management, like land development, mineral exploration, construction and SOEs.

Promising indexes

Back to 2010, the Government noted that the economy has bounced back rapidly after the global financial crisis, with GDP recorded a growth rate of 6.78%, higher than the National Assembly’s set target of 6.5%; export turnover reached US $71.6 billion; and attracted US $18.6 billion of FDI. 

In addition, social welfare, job generation, poverty reduction and healthcare also gained much progress in 2010, while the international community praised the country for its administrative reform and diplomatic success.

In the year to come, the country may face some challenges like natural disasters, price hikes, unsustainable banking system, and high inflation, said the Cabinet. However, the Government noted that there are many favorable conditions for Việt Nam to attain a GDP growth rate of 7-7.5% in 2011, an important impetus for the country to fulfill its five-year development strategy.

By Hương Giang