Efforts needed to curb price hikes following salary increases
A salary policy reform is scheduled to be implemented from July 1, with the average salary of officials, civil servants and public employees expected to increase by about 30%, including basic salary and allowances.
Elderly people in Ho Chi Minh City receive pensions at district post offices - Illustrative image (Photo: VNA)
Hanoi (VNA) – A salary policy reform is scheduled to be implemented from July 1, with the average salary of officials, civil servants and public employees expected to increase by about 30%, including basic salary and allowances.
Notably, those working in the education and health sectors are likely to enjoy a higher salary than the average level.
This is a significant increase compared to the average annual rise of 7% before the salary reform is implemented.
However, wage increases will only be truly meaningful when commodity prices are strictly controlled and the rises do not create inflation.
In a recent meeting of the Price Management Steering Committee, Deputy Prime Minister Le Minh Khai, who is also head of the committee, requested not to have unreasonable price increases after the salary is raised.
To stabilise the market, it is necessary to ensure the smooth supply and circulation of goods to meet consumption needs, and check price listings at traditional markets, Khai stressed.
He asked ministries, sectors and localities to propose appropriate solutions and scenarios, and coordinate well with each other to prevent prices of goods, especially essentia☂l products, from rising./.
The National Assembly has passed a Resolution on the 2024 socio-economic development plan, which emphasises reviewing and perfecting wage policies, social insurance policies, and unemployment insurance in an open direction to broaden coverage and boost participation.
The 15th National Assembly is scheduled to approve a salary reform policy in its ongoing sixth plenary session which will hold historical significance and bring about joy for officials and public servants, according to Minister of Home Affairs Pham Thi Thanh Tra.
The country's May consumer price index (CPI) rose by 0.05% against April, 1.24% compared to the index in December 2023, and 4.44% year-on-year, the General Statistics Office announced on May 29.
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