According to economists, despite a host of difficulties forecast for 2024, inflation will not be a big issue for Vietnam in the year. (Photo: VNA) Speaking at the workshop, jointly held by theInstitute of Economics and Finance under the Academy of Finance and the PriceManagement Department at the Ministry of Finance, Deputy Director of the Institute Nguyen Duc Do explained that the world economy, especially the US andChina, is expected to slow this year.
Given this, Vietnam’s exports are projected to remainmodest, he said. The struggling real estate market will adversely affectthe entire economy and lead to low growth in the year.
Do also set out several scenarios for the consumer priceindex (CPI) growth, the main gauge of inflation, ranging from 2.5% to 3.5%.
Participants at the workshop. (Photo: hanoimoi.vn) Associate Professor, Dr. Ngo Tri Long stressed thatthe inflation target of 4% - 4.5% approved by the National Assembly would bepossible thanks to the Government’s experience in price management, plus aggregatedemand yet to show signs of rebound.
However, the factors that cause inflationary pressurestill remain, but the outlook is better in a number of countries, reducing the once high CPI growth forecast due to service fee adjustments,heard the workshop.
Its Price Management Department will also keep aclose watch on economic developments and impacts of global inflation on Vietnamto take appropriate solutions, while closely monitoring the domestic market togive policy consultation and flexible management scenarios.
Statistics show that Vietnam’s CPI rose 3.25% in2023, much lower than the target of about 4.5%.
Economists reported that the building of pricemanagement scenarios that match the reality is an important basis to controlinflation./.
VNA
