Economic experts at a July 11 seminar on Vietnam’s market priceshave predicted that the country’s purchasing power is likely to increasein the remaining months of the year.
Nguyen Ngoc Tuyen,Director of the Institute of Finance and Economics, cited somereasons that will lead to a CPI rise, including the high demand periodfrom September, measures to loosen financial and monetary policies, andgrowing consumer spending on education.
Accordingto experts, economic and banking system restructuring, adjusted interestrates, measures to encourage social investment and favourable taxpolicies all will push up supply and purchasing power.
Statisticsfrom the Ministry of Planning and Investment show that the country’stotal purchasing power in the first six months of 2013 was down due toweak demand.
Total retail sales and services revenue inthe period was estimated at 1,275 trillion VND, a year-on-year increaseof 11.9 percent. The growth rate for 2012 was 16 percent.-VNA