Prime Minister Pham Minh Chinh on Thursday held a meeting with ministries and sectors to discuss solutions to control inflation, stabilize the macro-economy, and boost socio-economic recovery and development. The meeting was held after the US Federal Reserve increased its benchmark interest rate by 75 basis points on Wednesday and central banks in several countries raised their interest rates to curb inflation.

In his address, the Prime Minister said the world economy is fluctuating in an unprecedented  complicated manner, inflation is rising, currencies in many countries are devaluating, strategic competition is getting fierce, and policies of many countries are changing. All these factors are affecting Vietnam’s imports, exports, and fuel prices, said the Prime Minister.

In such a context, the Prime Minister asked ministries and sectors to closely follow the situation and prepare for any situation. He said the primary tasks now are to maintain macro-economic stability, control inflation, ensure major balances, prevent recession, boost economic recovery and development, respond to the COVID-19 pandemic and accelerate vaccinations.

In order to create a foundation for sustainable development, the Prime Minister urged for stronger economic restructuring, reforming growth, applying science and technology, strengthening digital transformation, promoting green economy, circular economy energy transition and respond to climate change..

Source: VOV5