The State Bank of Vietnam (SBV) has to work with ministries and localities in regulating the monetary policy in a proactive, flexible manner in close association with the fiscal policy, so as to have active control of inflation, keep macro-economic stability, boost economic growth, and support the development of the financial and securities markets.

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The Government made the request in its Resolution 01/NQ-CP issued recently, during which it assigned the bank to manage interest and exchange rates in line with developments of the macro-economy, inflation, and the monetary market.

At the same time, the SBV should control and enhance credit quality, while applying measures to effectively manage the foreign currency and gold markets, continue measures against the dollarization and goldenization of the economy, and increase the national foreign reserves, said the resolution.

The bank is requested to design measures to mobilize gold stocks in society for the country’s socio-economic development.

It is also asked to coordinate closely with ministries and agencies to design proper solutions to accelerate non-cash payment, tighten the supervision and monitoring of operations of credit institutions, absolutely ensuring the safety for the system, and strictly handle violations in accordance with the law.

Meanwhile, the Finance Ministry is required to collaborate with ministries and localities to closely manage State budget expenses in conformity with the estimate.

The ministry is requested not to issue new policies and regulations that lead to a rise in State budget spending when a guarantee source is absent.

The Government demanded to minimize State budget spending for conferences, seminars, festivals, groundbreaking and inaugural ceremonies, and overseas business trips by ministries, State offices, and localities as well as the purchase of public cars. State budget advances are also not allowed, except for cases involving natural calamities, disease epidemics and defense and security tasks.

The Ministry of Planning and Investment is to focus investment on important and urgent projects that are supposed to complete in 2015, while removing administrative obstacles to step up the disbursement of development investment, and ensuring corresponding capital for ODA projects.

Source: VNA