Vietnam inflation may be controlled at 8-9% in 2012: National Finance Supervision Committee

The National Finance Supervision Committee has announced its report on “Vietnam Economic Outlook 2012-2013” which mentions on inflation. Accordingly, Vietnam’s inflation is forecast to be controlled at 8-9% in 2012 and at 6-7% by 2013.
The Committee President Vu Viet Ngoan analyzed that the prediction on inflation at 9% in 2012 was built based on the downward progress of CPI in last 5 months of 2011. This was the favorable trend and good basis for curbing inflation in first months and whole year 2012.

The target to curb inflation at one digit is under the heavy pressure of price increases of major commodities such as electricity, coal, forex rate and salary, the committee also admitted. After considering all these factors, estimated inflation at 9% in 2012 is still under control.

If the cash liquidity of banks is soon solved, interest rates at banks will decline around 4% against the current level, the committee said optimistically.

The committee is cooperating with the State Bank of Vietnam and relevant agencies to seek ways to deal and support liquidity of banks.

Tags: Vietnam economic, Vietnam economic growth, Vietnam economy, Vietnam economy 2012, Vietnam inflation 2012

Posted by VBN on Jan 12 2012. Filed under Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry