Submit plan to adjust electricity price before October 25

According to the Ministry of Finance's report, inflation is under control and on a downward trend.

Therefore, 2 CPI scenarios are proposed, including: scenario 1, the average CPI in 2023 is forecast to increase by about 3.2% compared to 2022. Scenario 2, the average CPI in 2023 will increase by about 3.6% compared to 2022.

Inflationary pressure 2024, proactively building scenarios

The Ministry of Finance forecasts the average CPI in 2023 to increase by 3.2 - 3.6%. The General Statistics Office forecasts the average CPI to increase by 3.3 - 3.6%.

The State Bank of Vietnam also forecasts average inflation in 2023 to increase by about 3.4% (fluctuating around 0.3%).

Assessing the current indicators as relatively "easy" to achieve the target, Deputy Minister of Planning and Investment Tran Quoc Phuong said that in 2024, price management and operation will be under greater pressure due to the impact of implementing the roadmap for reforming wage policies and adjusting prices of some goods and services managed by the State such as healthcare, education, electricity prices, etc.

General Director of the General Statistics Office Nguyen Thi Huong proposed that ministries and branches need to be more proactive in developing price management scenarios (possibly quarterly or according to a roadmap) for state-managed goods and services right from the beginning of the year.

In the spirit of "preparing early and from afar", we regularly update scenarios to be ready to deploy timely and effective price management solutions.

In conclusion, Deputy Prime Minister Le Minh Khai requested ministries, branches and localities to continue implementing appropriate management and price adjustment measures for a number of essential goods, which have a great impact on the consumer price index, people's lives and production and business activities of enterprises.

Paying special attention to gasoline and food prices, the Deputy Prime Minister said that there are currently a number of factors such as Russia and Saudi Arabia cutting supplies.

The decline in oil reserves of some major countries could cause world oil prices to reverse and increase in the last months of the year.

Besides, there is the problem of price fluctuations of food and rice, to both export and ensure food security...

Submit a plan to adjust prices of some items in October

The Deputy Prime Minister directed to stabilize the exchange rate, maintain the value of the currency, and not let it affect the macro economy. The Ministry of Finance prepared solutions for localities with budget deficits.

Regarding specific items, first of all electricity prices, the Deputy Prime Minister assigned the Ministry of Industry and Trade to coordinate with the State Capital Management Committee at Enterprises to direct Vietnam Electricity Group (EVN) to submit a price adjustment plan before October 25 in accordance with instructions and prescribed procedures.

Regarding petroleum products, the Ministry of Industry and Trade continues to focus on implementing solutions to ensure supply for the country's distribution system; and is ready to promptly handle price fluctuations when the market fluctuates.

The Ministry of Health submitted to the Government for comments on the plan to adjust medical service prices in October 2023; consider issuing a circular on medical service prices in a shortened order.

Regarding construction materials, including sand for filling, the Deputy Prime Minister assigned the Ministry of Natural Resources and Environment, the Ministry of Transport, and the Ministry of Construction to closely monitor supply and demand; and requested localities to strengthen inspection, supervision, and strict and effective management.

For other important and essential goods, the Deputy Prime Minister requested proactive management, solutions for production, storage, and regulation of goods, ensuring supply, and stabilizing market prices for the end of the year and the Lunar New Year of Giap Thin in 2024, especially for important and essential goods.