Although many forecasts said that inflation would be controlled at less than 4 percent this year, economists recommended it was still important to pay attention to inflationary pressures.
Prime Minister Nguyen Xuan Phuc and US President Donald Trump on December 22 agreed that the Vietnam-US cooperation has advanced robustly across all fields since the two nations set up diplomatic relations 25 years ago, especially in recent years.
Prime Minister Nguyen Xuan Phuc has called for the continued study of fiscal and monetary policies to stimulate the country’s economy while ensuring macro-economic stability and inflation control.
With huge inflation pressure on the way in the remaining months of this year, a close watch must be kept on the prices of key products like oil and pork to hit the goal of keeping inflation below 4 percent, experts have said.
Minister of Planning and Investment Nguyen Chi Dung forecast the country’s economic situation will face big challenges in the second half of the year with huge pressure on inflation control and markets for domestic products.
The consumer price index (CPI) is projected to increase by between 3.5 percent and 4 percent this year, according to experts at a seminar held in Hanoi on July 2, which focused on national market and price movements in H1 and forecasts for the whole year.
The central bank’s decision to lower refinance rate shows that the bank is ready to provide lower-cost capital sources for commercial banks, enabling them to restructure debts to provide new loans.
The National Assembly has set its GDP growth target for 2020 at 6.8% after carefully considering global movements and the domestic situation. However, according to experts, the target is challenging.
Vietnam recorded a year-on-year increase of 2.79 percent in the consumer price index (CPI) in 2019, the lowest level in the past three years, the General Statistics Office (GSO) said on December 27.
The 11th plenum of the 12th Party Central Committee concluded in Hanoi on October 12 after six days of sitting, fulfilling all of its set working agenda.
With a GDP expansion of 7.31 percent in the third quarter, the growth target of 6.6 – 6.8 percent for 2019 set by the National Assembly is achievable and likely to reach 7.05 percent.
A CPI rise at three-year low during the first half of 2019 has greatly helped stabilise the macro-economy, promote economic growth and leave much room for inflation control for the remaining of the year, according to Deputy Prime Minister Vuong Dinh Hue.
The average Consumer Price Index (CPI) in the first half of 2019 increased 2.64 percent year-on-year, the lowest level over the last three years, according to the General Statistics Office (GSO).
The Government has affirmed its resolve to pursue the goal of macro-economic stability and inflation control while focusing efforts on addressing existing shortcomings and limitations in a resolution adopted at its regular meeting for May.
The future of the Vietnamese economy in 2019may become more unstable due to impacts from shocks in the international market, according to the Vietnam Institute for Economic and Policy Research (VEPR).
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XIII National Congress of Communist Party of Vietnam
