Prime Minister Pham Minh Chinh has just signed Official Dispatch No. 104 on enhancing the effectiveness of monetary and fiscal policy management and organizing a review of the work in the first 6 months of the year.
Boosting credit for people under 35 years old to buy, rent, or hire-purchase social housing
Regarding monetary policy, the Prime Minister requested the State Bank of Vietnam to preside over and coordinate with relevant agencies to closely monitor developments and the world and domestic economic situation to proactively, flexibly, promptly and effectively operate monetary policy; closely coordinate with fiscal policy and other macroeconomic policies, promote growth, control inflation, stabilize the macro economy, and ensure major balances of the economy.
The State Bank directs credit institutions to continue to reduce costs, simplify administrative procedures, promote digital transformation... to reduce lending interest rates, support production and business of enterprises and people in the spirit of "harmonized benefits, shared risks"; direct credit to priority areas, traditional growth drivers of the economy and new growth drivers; strengthen measures to handle bad debts, limit bad debts arising; strive for annual credit growth of about 16% compared to 2024, towards 2026, managing credit growth according to market tools and eliminating quotas.
The Prime Minister also requested the State Bank to manage exchange rates in a flexible, harmonious and reasonable balance between interest rates and exchange rates; diversify foreign currency supply channels, stabilize the value of the Vietnamese Dong, and improve the international balance of payments...
Also according to the telegram, the Prime Minister requested to promote the credit program for young people under 35 years old to buy, rent, and hire-purchase social housing, the VND500,000 billion credit program for enterprises investing in infrastructure, science, technology, innovation, and digital transformation; the credit program to support the linkage of production, processing, and consumption of high-quality and low-emission rice products in the Mekong Delta, etc.
The State Bank needs to strengthen appropriate, timely and effective measures to manage the gold market; urgently submit to the Government a Decree amending Decree No. 24/2012/ND-CP on the management of gold trading activities before July 15.
Report on the impact assessment of the US reciprocal tax policy before July 15
Regarding fiscal policy, the Prime Minister assigned the Ministry of Finance to preside over and coordinate with relevant agencies to continue to operate a reasonable, focused, and key expansionary fiscal policy, closely, harmoniously, and effectively coordinating with monetary policy and other macroeconomic policies.
The Ministry of Finance coordinates to strengthen the management of state budget revenue; continues to expand the collection base; modernizes tax management; strives to increase state budget revenue by at least 20% compared to the estimate in 2025. At the same time, the Prime Minister directed to thoroughly save regular expenditures, including saving an additional 10% of the regular expenditure estimate in the last 7 months of the year to support social security and build boarding and semi-boarding schools for students in remote, border, special economic zones, and islands.
The Ministry of Finance must fully and promptly arrange funding sources to pay for policies and regimes according to Decree No. 178 and Decree No. 67 and tasks serving the arrangement of administrative units and the implementation of two-level local government; immediately issue guiding documents and remove difficulties and obstacles for localities (especially at the commune level) in implementing tasks related to state finance and budget when operating the two-level local government model, ensuring timeliness, smoothness, efficiency, and no interruptions.
Policies on tax, fee, land rent exemption and extension and other mechanisms and policies need to be effectively implemented. The Prime Minister also directed the development of effective mechanisms to selectively attract foreign investment, focusing on promoting and attracting large-scale, high-tech, environmentally clean FDI projects; promptly grasping and handling difficulties and problems of FDI enterprises, especially cutting down administrative procedures to speed up the progress of projects in Vietnam.
The Ministry of Finance shall effectively advise the Prime Minister's Working Groups to strengthen inspection and urge the disbursement of public investment capital; implement measures as prescribed to upgrade the stock market from a frontier market to an emerging market; submit to the Government a draft Resolution on piloting the crypto asset market before July 15.
In addition, the Ministry of Finance will review and assess the impact of the US's reciprocal tax policy on Vietnam; develop support policies for businesses and workers in industries and sectors affected by the US's tariff policy, and report to competent authorities before July 15.
KT (according to Vietnamnet)Source: https://baohaiphongplus.vn/thu-tuong-yeu-cau-day-manh-tin-dung-voi-nguoi-tre-duoi-35-tuoi-mua-thue-nha-o-xa-hoi-415736.html
Comment (0)