Deputy PM stresses importance of efficient price management in 2025
Deputy PM Ho Duc Phoc said with the GDP growth target for 2025 of at least 8%, the amount of money injected into the economy will be significantly higher than in 2024, and growth drivers will be stimulated, thereby impacting price indexes, especially consumer prices.
Deputy Prime Minister Ho Duc Phoc speaks at meeting of the Steering Committee for Price Management (Photo: VNA)
Hanoi (VNA)ಌ - Deputy Prime Minister Ho Duc Phoc highlighted the need for truly effective, proactive and specific price management in 2025 while chairing a meeting of the Steering Committee for Price Management on February 6.
Phoc, who is also head of the steering committee, said with the GDP growth target for 2025 of at least 8%, the amount of money injected into the economy will be significantly higher than in 2024, and growth drivers will be stimulated, thereby impacting price indexes, especially consumer prices.
Among the three inflation scenarios of 3.83%, 4.15%, and 4.5% proposed by the Ministry of Finance for 2025, the Deputy PM suggested selecting the middle option of 4.15% and emphasised the need for the drastic implementation towards this goal, noting that a lower rate would be even better.
Stressing the importance of implementing price listing and selling at the listed prices, Phoc said that this is a way to protect consumers and ensure that sellers' pricing practices are transparent and objective.
It is also essential to closely monitor market developments, strategic commodities, and policies, as well as global market trends to develop flexible scenarios and solutions for effective response; and proactively grasp market dynamics, and balance supply and demand, especially for essential goods and services, he noted.
To ensure the inflation control target of around 4.5% as set by the National Assembly’s Resolution, the steering committee emphasised the necessity to effectively manage inflation while resources are being intensified to promote the highest possible economic growth.
At the same time, efforts should continue to support the removal of difficulties for production, business activities, and people's livelihoods, Phoc stated, adding that the roadmap for market-based pricing of public services and state-managed goods should be implemented with appropriate levels and measures in line with consumer price index developments, alongside accelerating the improvement of the legal framework on pricing./.
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