The country's gross domestic product (GDP) this year is expected to be6.5 percent, much higher than the Government's set target of 6.2percent, the National Financial Supervisory Committee (NFSC) forecast.
Accordingto the committee, the GDP in the first quarter of the year posted a6.03 percent year-on-year increase, the highest in the last five years.
Thecommittee said the increasing GDP was due to improved demand. The totalretail sale of products and services in the first quarter (excludingprice rise) was 5.1 percent higher than the same period last year.
Theinvestment demand also improved. The country's credit growth reached1.25 percent by March 20, much higher than the level of 0.5 percent inthe corresponding period last year, thanks to interest rate cut to someextent.
FDI disbursement in the first three months was 7 percent, higher than 5.6 percent in the past 12 months.
Thecountry's exports in the first quarter of this year grew 6.9 percentagainst the same period last year to touch 35.7 billion USD.
Asfor inflation, the committee said CPI this year would continue to be alow 3.5 percent. If the world food prices fall this year, the CPI targetof 5 percent would depend on electricity tariff adjustment.
It calculated that the power tariff rise of 7.5 percent on March 16 would increase the whole year's CPI by 0.5 percent.-VNA
Accordingto the committee, the GDP in the first quarter of the year posted a6.03 percent year-on-year increase, the highest in the last five years.
Thecommittee said the increasing GDP was due to improved demand. The totalretail sale of products and services in the first quarter (excludingprice rise) was 5.1 percent higher than the same period last year.
Theinvestment demand also improved. The country's credit growth reached1.25 percent by March 20, much higher than the level of 0.5 percent inthe corresponding period last year, thanks to interest rate cut to someextent.
FDI disbursement in the first three months was 7 percent, higher than 5.6 percent in the past 12 months.
Thecountry's exports in the first quarter of this year grew 6.9 percentagainst the same period last year to touch 35.7 billion USD.
Asfor inflation, the committee said CPI this year would continue to be alow 3.5 percent. If the world food prices fall this year, the CPI targetof 5 percent would depend on electricity tariff adjustment.
It calculated that the power tariff rise of 7.5 percent on March 16 would increase the whole year's CPI by 0.5 percent.-VNA
