Mr Chinh was speaking while chairing a meeting in Hanoi on Thursday evening with ministries and agencies on the management of fiscal and monetary policies to maintain macroeconomic stability, control inflation, promote growth, and ensure major balances.

He said that despite global complexity, Vietnam’s macroeconomic stability was secured, the economy grew well, major balances of the economy were guaranteed, and inflation and the budget deficit, public debt, and government debt were well controlled.

People's lives, national defense and security, political stability, social order, and safety were all ensured, PM Chinh said.

He stressed the need to ensure harmony between exchange rates and inflation in coordination with the world's deflationary trajectory, to reduce costs and loan interest rates by 1-2%, to enhance digitalization, and to strive for credit growth of 5-6% in the second quarter.

The Prime Minister called for the continued promotion of public investment, with a focus on key national infrastructure, inter-regional socio-economic development, and social housing projects.