The Government requested to study and propose to increase the level of petroleum reserves

Accordingly, the Government assigned the Ministry of Industry and Trade to assume the prime responsibility for, and coordinate with other ministries, agencies and localities in strengthening monitoring, ensuring supply and demand of petroleum products, proactively, timely and effectively managing petrol and oil prices. ; to study and propose to increase the level of petroleum reserves; focus on information and propaganda to create social consensus.

In addition, the Government requested the Ministry of Industry and Trade to focus on directing the review of the entire national electricity system operation plan, paying special attention to the harmonious, reasonable and efficient development of production and transmission capacity. load, keep abreast of the load situation and have a plan in case the load increases, the power transmission system is always put in a ready state to ensure electricity for production, consumption and daily life.

In Resolution No. 63/NQ-CP of the Government’s regular meeting in April 2022, which was released by the Government Office, in April, the world situation continued to be complicated; conflicts, geopolitical competition, strategic competition increasingly fierce; the price of crude oil, raw materials, basic commodities was at high level, inflation increased, some major economies tended to increase interest rates, speeding up the roadmap to narrow the scale of monetary easing; there is a risk of disruption to the global supply chain….

Under the leadership of the Party, the efforts of the whole political system, the drastic direction and administration of the Government, the Prime Minister, ministries and branches, and the joint effort and consensus of the people and community co-enterprise; our country’s socio-economic situation continued to prosper and achieved many positive and comprehensive results in all fields.

Specifically, the macro-economy is stable, inflation is controlled, major balances are ensured. CPI in 04 months increased by 2.1% on average. Money market, basic exchange rate is stable; lending interest rates maintained at a reasonable level. State budget revenue in the first four months of the year reached 46.6% of the estimate, up 15.4% over the same period in 2021. Exports of the first four months increased by 16.4%; trade surplus is about 2.53 billion USD. Realized FDI capital reached US$5.92 billion, up 7.6% over the same period.

The resolution stated that in the coming time, it is forecast that the world situation will continue to change rapidly and unpredictably with advantages, difficulties and challenges intertwined, but more difficulties and challenges.

Faced with that situation, the Government requested all levels, branches and localities to continue implementing synchronously, drastically, promptly and effectively the tasks and solutions on the economic recovery and development program – society and the COVID-19 epidemic prevention and control program. Continue to consistently implement the goal of stabilizing the macro-economy, controlling inflation and ensuring major balances of the economy.

The Government also requires ministries, branches, agencies, units and localities on the basis of functions, tasks and powers; closely monitor the market, commodity prices, manage and stabilize prices appropriately, do a good job of information and propaganda, stabilize people’s psychology, avoid destabilizing the market, creating inflation expectations ; to ensure the supply and circulation of goods, to balance electricity and petrol; inspect, review and accelerate projects on power sources and grids, proactively plan for production and operation of the power system, to meet consumption demand in the coming hot season.

Thuy Linh