Accordingly, the State Bank of Việt Nam (SBV) is required to keep the credit growth under 20%, prioritize capital for business operations, agricultural production, exports, supporting industries, and small- and medium-sized enterprises.

Monetary policy must be designed in an active and flexible manner in support of inflation curbing.

The Government chief urged SBV to quickly submit to the Government for approval the regulations on detailed punishments against illegal foreign currency trading activities.

Publicizing 10% cut in regular spending

PM Dũng ordered the Ministry of Finance to calculate and publicize specific budget-cutting volumes of inferior levels and take necessary measures to reduce the budget overspending to less than 5% this year.

All ministries and agencies must convene videoconferences in stead of traditional ways of meeting with the aim to reduce the spending from the state budget.

The Ministry of Planning and Investment (MPI) was assigned to enlist projects to be completed in 2011 and submit the list to the Government’s regular meeting in April.

Trade deficit under 16% of total export turnover

To ease barriers against production, the PM required the Ministry of Industry and Trade (MOIT) to strictly control 2011 power distribution plan, striving to save about 10% of the power consumption.

The MOIT will take measures to speed up export and control import in accordance with the country’s international commitments so as to make sure that the trade deficit would not exceed 16% of the total export value.

The Government chief also asked the Ministry of Finance to study tax policy on real estate market in order to reduce speculation and for the healthy development of the market.

Information for social consensus

PM Dũng called for effective implementation of social welfare policies, including power price assistance to poor households.

All new policies and regulatory measures must be disseminated timely and fully to make sure that people thoroughly understand them, thus creating social consensus, he stressed.

The MPI was assigned to sum up the outcomes of the implementation of the Government’s Resolution No. 11/NQ-CP and report to the Government’s meeting with localities in June.

By Hải Minh