The Government on March 15 convened a meeting to review the implementation of the Government’s Resolution No. 11/NQ-CP on key solutions for controlling inflation, stabilizing macro-economy, and ensuring social welfare.

Participants to the meeting unanimously agreed that positive outcomes have been recorded following the implementation of the above resolution. In the Q1/2011, the national economy continued expanding with slower pace compared to the last quarter of 2011. The GDP is estimated to grow at 5.4-5.6% in the reviewed period. The Q1/2011 is also featured with strong growth in service sector and strengthened social welfare policies.

However, the Government noted that challenges are still lying ahead. High interest rates and price fluctuation caused some affection the country’s production and people’s life. The PM requested ministries, sectors and localities to continue strictly implementing the resolution by developing their own specific action plans.

Concluding the meeting, PM Nguyen Tan Dung said that the resolution was timely promulgated to address the right issues. Tight and cautious money policy and anti-dollarization of the national economy must be seriously observed. Strict punishments will be given to illegal Greenback trading activities, PM Dung ordered. He also required adequate foreign currency sources to meet individuals and enterprises’ legitimate demand and gradually put stop to gold bar trading on free market.

Reported by Chinhphu.vn – Translated by A.C