Hanoi (VNA) - Vietnam’s CPI this yearmust be controlled and grow by less than 4 percent, and this is one of the tasks to develop the economy during the remaining months of 2020, Prime Minister Nguyen Xuan Phuc said on July 1.

At a meeting of the national steering committeefor price management in Hanoi, of which he is the chair, the Ministry of Finance reported that porkprices tended downwards in June due to a rise in live pig imports.

The General Statistics Office said that asidefrom bringing pork prices down, it is also necessary to set electricity andpetrol prices at appropriate levels so as to help keep the CPI within theceiling set by the National Assembly.

As the rise in the basic wage for cadres, civilservants, public employees, members of the armed forces, and pensioners,initially slated for July 1, was delayed due to COVID-19, an increase to healthservice prices was also rescheduled, the office noted.

The PM said the early containment of COVID-19has created the conditions necessary for development, noting that theGovernment is determined to boost economic development and obtainmacro-stability - an important target requiring ministries, sectors, andlocalities to have high levels of resolve.

The country is still working to concurrentlyfight the pandemic and promote development, and it will absolutely prevent asecond wave of infections, he said.

Pointing out that GDP growth was just 1.81percent in the first half of 2020 - the slowest first-half pace in a decade -he made four requests for the remaining months of the year to promote economicdevelopment.

He demanded that economic growth be as high aspossible, noting that the Government targets growth of 4 percent for the year, whilesocial security must be ensured and unemployment minimised.

The third task is to keep the CPI below 4percent, which he said is critical in stabilising exchange rates, which would subsequentlyhelp with investment attraction and job creation.

And the fourth is to ensure balance within theeconomy, especially as uncertainty is likely to come in the second half, suchas storms and floods, while food reserves must be guaranteed in allcircumstances.

As inflationary pressure remains substantial, thePM asked for flexibility in governance so as not to affect economic recoveryand development. 

The Finance Ministry should work with otherministries and sectors to take appropriate action to keep CPI growth at lessthan 4 percent, he said, adding that 4 percent is acceptable to help spurgrowth./.