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Government discusses world financial crisis
PM Nguyen Tan Dung chaired a cabinet meeting on Oct. 17 about the ongoing world financial crisis and its impacts on Vietnam .
PM Dung said the crisis is spreading with its scale, complexity and consequence swelling much greater than previously forecast, putting the world’s economy on the verge of recession.
While agreeing that the financial crisis has certain impact on the Vietnamese economy, participants said Vietnam is capable of warding off a crisis with better balanced macro-economy, greater reserve of hard currency, and better control of trade imbalance and inflation.
PM Dung urged relevant agencies to keep a close watch on every move of the global crisis to make timely recommendations.
The government must spare no effort to minimize all possible effects of the financial crisis and continue with the prioritised endeavour to curb inflation, whilst taking advantages of every favourable condition for development, he said.
The PM also instructed agencies to pay attention to the safety of the banking system, flexibly adjusting interest rates and essential prices, reasonably using tax instruments, supplying enough capital for production and business.
VNA
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