How to control inflation when salary reform takes place from July 1?

Assessing that inflationary pressure is still very high, especially when salary reform is implemented from July 1, National Assembly delegates want to know how the Government will manage prices to achieve the goal of controlling inflation.

On the morning of June 6, at the question and answer session at the 7th Session of the 15th National Assembly, answering questions from National Assembly deputies, Deputy Prime Minister Tran Hong Ha affirmed that the Government focuses on harmoniously adjusting economic growth and controlling inflation, monetary policy goes hand in hand with fiscal policy.

Asking questions, delegate Mai Thi Phuong Hoa ( Nam Dinh delegation) raised the issue that in recent times, the Government has made great efforts to strictly control inflation, however, the pressure to control inflation is still very large, especially in the coming time when reforms are implemented. salary from July 1, 2024. Delegate Mai Thi Phuong Hoa asked the Deputy Prime Minister to inform about the orientation and price management work in the coming time to ensure the goal of controlling inflation.

Responding to delegates, Deputy Prime Minister Tran Hong Ha emphasized that inflation is closely related to essential goods, in which Vietnam is an open economy so it imports a lot of supplies and raw materials - this depends on the world market.

"We are implementing a stimulus package and increasing wages, which could cause fluctuations and affect the macro economy, especially inflation control," said Deputy Prime Minister Tran Hong Ha.

Deputy Prime Minister Tran Hong Ha speaks at the question and answer session. Photo: TRONG HAI

Deputy Prime Minister Tran Hong Ha said that recently, the Government has directed ministries and branches to drastically implement synchronous and smooth solutions to ensure production, supply, circulation and distribution, ensuring that goods, especially those whose prices are managed and controlled by the Government, are adjusted according to a suitable roadmap and time.

Deputy Prime Minister Tran Hong Ha emphasized that fiscal policy is closely related to monetary policy, for example, the recent handling of gold price fluctuations aims to control and stabilize the value of money. Monetary policies to ensure exchange rates and currency value are very important policies, coupled with fiscal policy. Along with that, the Government promotes policies to stimulate consumption such as tourism and shopping; at the same time, there are policies to increase public investment and essential infrastructure to ensure production and economic development. Thus, with the issue of adjusting smoothly between economic growth and controlling inflation, adjusting between monetary and fiscal policies, we can completely adjust prices.

Delegate Tran Nhat Minh (Nghe An delegation) asked the Deputy Prime Minister to inform about the current status of electricity supply for production, including potential projects in high technology, semiconductor chip production, etc. How does this situation affect the opportunity to attract foreign investment in the recent past and the Government's solutions in the coming time?

National Assembly deputies ask questions at the question and answer session.

Deputy Prime Minister Tran Hong Ha affirmed that this is an issue that the Government has given drastic and comprehensive direction in the past. In particular, attention has been paid to implementing power source projects, removing obstacles in investment policies and mechanisms, and solving the electricity distribution issue through the construction of the 500kV line 3. Thereby, solving the problem of regulating electricity between regions.

In addition, the solution to ensure the diversification of power sources and competition in power sources is to develop a decree on direct electricity trading with customers, especially with renewable energy. From this perspective, it will ensure adequate power supply, power safety, and the responsibility and initiative of businesses, especially those involved in ensuring energy security.

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