Amid ongoing global uncertainties, Prime Minister Pham Minh Chinh emphasized the need for proactive and flexible management of fiscal and monetary policies. He called for a focused and prioritized approach, ensuring that fiscal policy tools are synchronized with monetary and other macroeconomic policies in a harmonious and suitable manner.

The Prime Minister stressed the need to prevent the exchange rate from affecting macro-economy and inflation control, while requesting that the lending rates should be reduced by 1-2% to stimulate production and trade. He set a target for credit growth of 5-6% right in the second quarter.

Prime Minister Pham Minh Chinh speaks at the meeting.

Additionally, he urged efforts to increase State budget revenue and manage State budget expenditures strictly, thus improving the efficiency of budget management, allocation and use while tightening financial discipline and order.

The leader also directed the continued promotion of public investment, with a focus on key national infrastructure, inter-regional socio-economic development, and social housing projects. He suggested considering the issuance of bonds and pooling all social resources, with an initial aim of raising about VND 100 trillion (USD 4.16 billion) for projects related to green transition, digital transformation, and social housing during the 2021-2025 period.

Regarding gold market management, he instructed the immediate adoption of various tools and measures to regulate and stabilize the gold market more effectively and in a timely manner.

Source: VNA