The Government leader made the statement at a working session with representatives of international organisations and specialists in Hanoi on September 20.

He told his guests that in the face of the global economic slowdown and high inflation, the Vietnamese Government decided in April to lower its GDP growth rate to 7 percent from the 8-8.5 percent target set earlier for this year. It adopted eight major solutions aimed at reining in runaway inflation, stabilising the macro-economy, ensuring social welfare and sustaining the growth rate.

Mr Dung said that the implementation of these solutions has brought encouraging results with inflation gradually being kept under control. The consumer price index (CPI) increased by just 0.18 percent in September, bringing the CPI for the past nine months to 21 percent. Nine-month exports increased by 39 percent while the trade deficit fell significantly to less than US$1 billion per month. Notably, foreign investment hit a record high of more than US$40 billion.

After pointing out shortcomings and challenges the Vietnamese economy is facing, Mr Dung affirmed the Government’s resolve to meet the set target. He asked the international specialists to share experiences and make recommendations to the Government, with a focus on identifying the situation of the world economy and its impact on the national economy, the prospect for the national economy in the last quarter of 2008 and the whole of 2009, and Vietnam’s plans of action alongside the Government’s adopted solutions. 

Leading economists introduced solutions to help Vietnam control inflation, ensure social welfare and manage monetary policies.