Vietnam should prioritize macro-economic stabilization in post-crisis period: experts

09:03, January 27, 2010      

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Vietnam's economic experts said on Tuesday that stabilizing the country's macro economy should be on top of the government's economic agenda in 2010.

The suggestions were made at the conference themed "Mapping out the post-crisis financial policy" held by Vietnamese Ministry of Industry and Trade.

The conference aimed to analyze and assess the country's financial policy in the context of global crisis. Moreover, the experts shared their ideas on financial policy after the crisis and gave the suggestions and solutions for Vietnam's policy in the coming years.

The experts expressed their uncertainties of Vietnam's macro economy which may face high inflation rate, increasing exchange rate, trade deficit and budget deficit this year.

Experts said that if Vietnam pursues the short-term economic growth, the country's economy is likely to become unstable and unsustainable in the future.

The expert urged the State Bank of Vietnam to take the monetary policy carefully in order to curb the fast increase of credit growth and money supply.

At the conference, the exports also emphasized the importance to introduce a tight fiscal policy in 2010 as well as to improve the effectiveness of budget spending.

The experts also urged the Vietnamese government to be cautious about investing in projects requiring a large amount of budget and pay more attention to restructure the economy to decrease the trade deficit.

Source: Xinhua
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