Asian Development Bank (ADB) said that Vietnam has timely given the overall policies to tame inflation and stabilise the macro economy via its Resolution No 11. If this resolution is implemented successfully, Vietnam’s economy will be recovered. However, despite the successful implementation, the country still needs more time to lessen the inflation. The country’s inflation [...]
As reported by the National Assembly Standing Committee on February 18 on socio-economic development and state budget in 2010, amongst 21 approved targets in 2010, 17 ones reached and exceeded the year’s targets. Accordingly, the country’s economic growth in 2010 was 6.78%, higher than the target approved by the NA (6.7%) and higher than the [...]
Vietnamese inflation may accelerate to as much as 15 percent, the highest level in two years, before slowing by the end of 2011, Credit Suisse Group AG said. Consumer-price growth may peak at 13 percent to 15 percent within “about three months,” Robert Prior-Wandesforde, the head of India and Southeast Asia economics at Credit Suisse, [...]
World Bank (WB) recently gave forecast that Vietnam’s inflation this year would be at 10.5 percent. However, according to many domestic experts, because total consumer price index (CPI) during the first 11 months this year jumped up to 9.58 percent, the country’s inflation in 2010 would be at least 11 percent. Economist Ngo Tri Long, [...]
Vietnam’s consumer price index is likely to rise around 9% this year, from 7.58% at end-October, as a result of strong increases in prices of various essential goods amid soaring demand, the Ministry of Industry and Trade forecast. The ministry’s Domestic Market Management Department said the index for November will remain high if no more [...]
The six months’ 6.16% growth shows a satisfactory trend in the country’s economic development. Detailed outputs of all sectors and fields are as follows: Agriculture, forestry and fishery Agriculture As of 15/7/2010, the country has had 1,024,400 ha of winter rice cultivated, equal to 96.2% of the same period last year, of which provinces in [...]
Vietnam’s state budget deficit expanded to VND30.65 trillion in the first half of this year, equal to 3.58% of the country’s gross domestic product (GDP), compared to the full-year estimate of 6.2%, the Ministry of Finance said on July 23. The communist-run country had total revenues and grants of VND242.43 trillion in the period, including [...]
The total sale of goods and services in July in Ha Noi is expected to hit VND71.15 trillion (US$3.7 billion), which represents an increase of 37 per cent over the same period last year, reports the Ha Noi Industry and Trade Department. Retail sales earned VND16.7 trillion ($878 million), which is a year-on-year increase of [...]
Deputy Prime Minister Truong Vinh Trong chaired a conference in Hanoi on July 12 to review and predict the socio-economic status of northwestern region in 2010. Mr Trong spoke highly of its efforts to create the best possible conditions for socio-economic development at grassroots level. The northwestern region still has 43 poor districts out of [...]
RESTORATION OF THE ECONOMIC GROWTH Gross Domestic Products (GDP) Growth GDP in 1st Quarter of 2010 rose by 5.83% as against the same period in 2009, and in 2nd quarter it was estimated increasing by 6.4% as against the same period last year and equaling 109.8% of 1st quarter’s growth. Generally in 6 months, GDP [...]
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