Vietnam’s legislators discuss ways to curb inflation

Vietnam’s legislators have discussed measures to curb petrol prices as part of its efforts to control inflation at the ongoing third session of the 15th National Assembly.

Speaking at a session on the socio-economic situation on Thursday, Finance Minister Ho Duc Phoc said controlling inflation is an urgent and important task in Vietnam, Xinhua news agency reported.

At present, fiscal and monetary policy and price management policy are among tools to fight inflation in Vietnam, he added.

Reducing petrol taxes is also a fiscal policy to help control the inflation and the Finance Ministry will conduct an impact evaluation and report to the government and the National Assembly for consideration, he said.

Petroleum prices in Vietnam have been adjusted 13 times since early this year, with only three decreases.

Its consumer price index rose 2.25 per cent year-on-year in the first five months of this year, and it is unlikely to be kept under 4 per cent this year, according to the National Center of Socio-economic Information and Forecast under Vietnam’s Ministry of Planning and Investment.

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