Vietnam inflation forecasted at 4pct in Q1 2011

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 plan of 6.5%.

Vietnam’s total export turnover reached $72.2 billion, over four fold increase against the year’s plan. State budget collection reached 559.17 trillion dong, increasing 31.07 trillion dong against the NA’s report.

Notably, the consumer price index (CPI) in December 2010 was up 11.75% over December 2009, averaging in 2010 at 9.19%, higher than the forecast of 8%.

The Budget and Finance Committee said that the socio-economic development plan and state budget in 2011 will depend much on factors such as inflation in the first two months forecasted at over 3.4% and it may be up to 4% in Q1. – Vietbiz24

Tags: Vietnam 2011 inflation, Vietnam economic, Vietnam economy, Vietnam inflation

Posted by VBN on Feb 21 2011. Filed under Economy News, Monthly Statistical Information. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry