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Lawmakers call for firmness in inflation fight
Even the government’s revised inflation target of 17 percent for this year would be hard to achieve, some lawmakers admitted, urging the government however to remain determined in its efforts.
When Tuoi Tre asked some National Assembly members at a media briefing after the July Cabinet meeting about the inflation target, Huynh Ngoc Dang, deputy head of the Binh Duong parliamentary delegation, said with prices rising by 1.17 percent in July the government was unlikely to achieve the target.
He mentioned two adverse factors in the fight against inflation: the traditionally bad weather in the latter of the year which hits production and thus prevents prices from declining, and the lack of impact so far from the government’s tax breaks and credit support for small and medium-sized firms.
He urged the government to subsidize essential goods for poor people and continue to tighten credit, especially to the property sector.
Tran Ngoc Vinh, deputy head of the Hai Phong National Assembly delegation, also said prices would continue to rise in the second half and urged the government to stay firm in its anti-inflationary course.
Petrol and power prices also need to be stabilized to prevent prices from soaring, he added.
Nguyen Thi Nguyet Huong, CEO of the Vietnam Investment and Development Group, was concerned over public spending.
She said the planned cuts in investment in ineffectual projects have not been handled well. “The government should improve the efficiency of public investment to ease the inflationary pressure,” she said.
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