Vietnam inflation will fall quickly: WB Chief Economist

Vietnam inflation will go down quickly in two or three months on the government’s recent stabilizing macro economics policy

Vietnam inflation will go down quickly in two or three months on the government’s recent stabilizing macro economics policy, Vikram Nehru, Regional Chief Economist for East Asia and The Pacific At World Bank (WB) told local media at a conference held on March 21-22 in Singapore.

Vikram Nehru believed that Vietnam would able to solve with the current unstable macro economics situation including high inflation and low foreign exchange reserve by good implementation of the Resolution No.11/NQ-CP.

However, two biggest weaknesses Vietnam has to deal with are the banking system and management of economic groups, the WB economist said.

Earlier, WB said on the East Asia and Pacific Economic Update report on March 21 that Vietnam is taking important step in the right direction after the recent policy on stabilizing the country’s macro economics.

WB forecast that Vietnam real GDP will slow down to 6.3% this year from 6.8% in 2010 due to tighten policy while inflation will stand at a single digit of 9.5%.

Vietnam Consumer Price Index (CPI) is estimated to accelerate by between 2.2% in March from February and 6.1% from beginning of this year, highest level in 33 months, the online newspaper VnEconomy reported March 18, citing the government report to the 12th National Assembly on the 2011 plan. – Stoxplus.com

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