At the Government’s monthly meeting on October 29 to discuss on ways to promote exports and accelerate the disbursement of public investment capital, Prime Minister (PM) Nguyen Xuan Phuc stressed the growth in Q4 must be 7.3 percent to ensure a growth rate of 6.3 - 6.5 percent in 2016.
The Government leader also underlined the need to continue ensuring macro-economic stability and well implementing financial tools to keep the year’s inflation within 5 percent, saying relevant agencies must keep close watch on changes on domestic prices and take measures on management of prices to avoid goods hoarding and rising price in the end of the year.
Attention should be also paid to reforming credit, supporting enterprises in accessing capital and considering lowering interest rates, the PM noted.
He also called for strengthened investment promotion by seeking to boost links between global groups and Vietnamese enterprises in implementing business and investment projects.
PM Phuc said each ministry, sector and locality must outline action plans for 2017 to create more breakthroughs in the year.
In a document on the matter issued on October 29, Minister, Chairman of the Government Office Mai Tien Dung underlined measures including controlling the State budget and local authority spending, drastically cutting government sponsorship of debts, focusing State investment on key sectors, and building five-year budgetary and financial plans.
Borrowing and debt payment schemes for five year periods should take into account possible risks such as oil prices and foreign exchange rates; potential debt obligations and force majeure risks.
The Government will improve the efficiency of public investment, encourage investment in the form of public-private partnerships and increase the accountability of ministries and localities in the allocation and use of loans, Minister Dung said.
He added that the Government will speed up with public debt restructuring, develop the domestic capital market, and prioritise long-term investors while improving institutional frameworks and policies for public debt management.
According to the national strategy on public debt and foreign debt from 2011-2020, with a vision towards 2030, public debt and Government debt must not exceed 65 percent and 55 percent of GDP, respectively.
In 2015, Government debt accounted for 50.3 percent of the GDP and is estimated to surpass 53 percent of GDP in 2016-2019.
The Government leader also underlined the need to continue ensuring macro-economic stability and well implementing financial tools to keep the year’s inflation within 5 percent, saying relevant agencies must keep close watch on changes on domestic prices and take measures on management of prices to avoid goods hoarding and rising price in the end of the year.
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He also called for strengthened investment promotion by seeking to boost links between global groups and Vietnamese enterprises in implementing business and investment projects.
PM Phuc said each ministry, sector and locality must outline action plans for 2017 to create more breakthroughs in the year.
In a document on the matter issued on October 29, Minister, Chairman of the Government Office Mai Tien Dung underlined measures including controlling the State budget and local authority spending, drastically cutting government sponsorship of debts, focusing State investment on key sectors, and building five-year budgetary and financial plans.
Borrowing and debt payment schemes for five year periods should take into account possible risks such as oil prices and foreign exchange rates; potential debt obligations and force majeure risks.
The Government will improve the efficiency of public investment, encourage investment in the form of public-private partnerships and increase the accountability of ministries and localities in the allocation and use of loans, Minister Dung said.
He added that the Government will speed up with public debt restructuring, develop the domestic capital market, and prioritise long-term investors while improving institutional frameworks and policies for public debt management.
According to the national strategy on public debt and foreign debt from 2011-2020, with a vision towards 2030, public debt and Government debt must not exceed 65 percent and 55 percent of GDP, respectively.
In 2015, Government debt accounted for 50.3 percent of the GDP and is estimated to surpass 53 percent of GDP in 2016-2019.
