Deputy PM Ho Duc Phoc said with the GDP growth target for 2025 of at least 8%, the amount of money injected into the economy will be significantly higher than in 2024, and growth drivers will be stimulated, thereby impacting price indexes, especially consumer prices.
Prime Minister Pham Minh Chinh has asked price management to be enhanced in the coming time, under an official dispatch recently sent to ministers, heads of ministerial-level agencies, and the chairpersons of the Peoples’ Committees of the provinces and centrally-run cities.
Economists at a workshop in Hanoi on January 4 shared the view that despite a host of difficulties forecast for 2024, inflation would not be a big issue for Vietnam in the year.
The domestic shopping demand is forecast to recover and gradually increase as Vietnam has recorded a relatively high vaccine coverage which helps ensure safety for consumers in shopping activities.
There will be no increases in prices of medical examination and treatment, Deputy Prime Minister Le Minh Khai affirmed while chairing a meeting with leading officials of several ministries and sectors on price management on June 13.
The COVID-19 pandemic has impacted economies and commodity markets globally, including Vietnam, and domestic prices will continue to fluctuate and be more closely linked to the fluctuations of raw material and fuel prices on the world market.
Vietnam’s CPI this year must be controlled and grow by less than 4 percent, and this is one of the tasks to develop the economy during the remaining months of 2020, Prime Minister Nguyen Xuan Phuc said on July 1.
The Finance Ministry recently issued a Notice requiring the People’s Committees of cities and provinces to strengthen price management following the traditional Lunar New Year (Tet).
Keeping average inflation below 4 percent is achievable this year, said Deputy Prime Minister Vuong Dinh Hue during a meeting of the Steering Committee on Price Management last weekend.
Vietnam’s macro economy remained stable in the first six months of 2017 while inflation was curbed so as to reach the national steering committee on price management’s yearly target of 4 percent.
The Department of Price Management will seek to improve market analysis and forecast in order to control inflation at 4 percent, as set by the National Assembly for 2017.
