Hanoi (VNA) –Deputy Prime Minister Vuong Dinh Hue, Chairman of the National Financial andMonetary Policy Advisory Council, chaired a meeting in Hanoi on September 28 toreview monetary policy for the third quarter of 2018 and outline tasks for the comingtime.

Members of the council said Vietnam’sfinancial and monetary policy, and macro-economy remain stable this year amidgeo-political and commercial instability in the world.  

The country’s gross domesticproduct (GDP) grew by 6.98 percent in the first nine months of this year, thehighest since 2011 and surpassing the set target. Inflation was under control,below the target set by the National Assembly.

Monetary policy has been directedactively and flexibly and combined with fiscal policy in order to develop the governmentbond and monetary markets, thus cutting lending costs for the State budget,they said.

The council’s members pointed outthat foreign exchange and interest rates face uncertain factors of the worldeconomy such as the escalating trade war and difficulties in the domesticprivate sector. 

They suggested that thegovernment should keep a close watch on trade disputes globally to mitigatenegative impacts, tighten fiscal policy, stabilise the macro-economy, renewgrowth model based on increasing labour output.

The council proposed cuttinginterest rates if possible, flexibly directing foreign exchange rates, restructuringexport markets, especially China, and curbing inflation below 4 percent thisyear.

The Deputy PM acquired suggestionsat the event and promised to submit them to the government to adopt suitablemeasures.-VNA