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| The steel price has reduced by VND 500,000 per tons as compared to early April |
Viet Nam’s CPI in April increased at 0.14% as compared to the previous month, the lowest rate achieved since March 2009. This successful achievement is attributed to major efforts made by the Government, ministries and localities in fighting back inflation while maintaining a 6.5% GDP growth rate in 2010.
VN at inflation pitfall
Only few months back, the inflation fever had menaced the whole society.
Many made-up rumors about price hikes of food, consumer goods, electricity, oil and gas were spreading nationwide, causing exhausting stress to many households, families and even the Government.
Not to mention, prices were escalated by retailer enterprises and wholesalers themselves as the trade gap must be widen due to the global increase in price of many materials such as steel, oil and gas.
How does the Government resolve?
In order to bolster the public confidence, the Government quickly adopted Resolution 18/NQ-CP on six measures to ensure macro-economic stability, curb inflation and maintain a 6.5% GDP growth in 2010.
The Government has directed its ministries to control sensitive products, stop price hike, reduce trade deficit and renew the balance of payment.
At the same time, it has paid more attention to stabilizing prices of electricity, oil and gas by distributing aid funds to enterprises.
The State Bank has also served as an economic spirit to lower interest rate while offering attractive loans to wake-up domestic production.
Not to mention, localities have actively joined in strictly managing their local markets, issuing new aid funds and policies to keep businesses running.
Source: VGP
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