Reducing interest rate and unvarying taxes till the end of 2017 to secure economic growth rate
By Minh An
September 13, 2017 | 06:36 AM GMT+7
Promoting credit growth and reducing the interest rate by 0.5 per cent are the measures to reach the economic growth target of 6.7 per cent.
The government's regular meeting in August 2017 (photo: VGP/Quang Hieu)
In the resolution of the regular meeting in August 2017, the Government of Vietnam required ministries and departments to create favorable conditions for enterprises to promote production and trade, striving to reach the 2017 economic growth target of 6.7 per cent.
Accordingly, the State Bank of Vietnam must actively and flexibly monitor the conduct of monetary policy to respond to the macroeconomic development and inflation, reducing the interest rate by 0.5 per cent and increasing the credit growth rate to 21 per cent by the end of 2017.
The Ministry of Planning and Investment must actively co-operate with other agencies to complete procedures to disburse the assigned amount of capital and draw experiences in the capital distribution to do better in the upcoming time.
The Ministry of Finance was also required to effectively implement the measures to enhance revenue management. In 2017, taxes and fees would not be increased in order to support production and trade.
The ministry of Industry and Trade must synchronously conduct measures to promote export, encourage domestic consumption as well as overhaul the free trade agreements. The Ministry of Agriculture and Rural Development, meanwhile, needs to focus on solutions to ensure the 3.05 per cent growth rate and US$33-34 billion of export value of agricultural products.
Also, Deputy Prime Minister Vuong Dinh Hue was assigned to continue directing synchronously solutions to restructure and equitize the state-owned enterprises, ensuring publicity and transparency.
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