Credit growth in the first eight months of this year rose by 8.18% over the end of last year, the lowest level since 2015, a report from the Ministry of Planning and Investment showed.
Viẹtnam’s gross domestic product (GDP) is expected to grow 6.83% in 2018, almost unchanged from 6.8% over the same period last year.
Vietnam has recorded robust socio-economic development in the first seven months of the year, with stable macro-economy, and good control over inflation, in the context of the escalating US-China trade war, said Minister-Chairman of the Government’s Office Mai Tien Dung.
Prime Minister Nguyen Xuan Phuc has reiterated the Government’s resolve to control inflation, noting that although the consumer price index (CPI) in July fell slightly from the previous month, the pressure for inflation hike remains considerable.
In the context of pressure on inflation and exchange rate, macroeconomic stabilization must be the top priority, experts say.
The Ministry of Finance (MoF) must apply measures to curb year-on-year inflation in 2018 at below 3.7%-3.9%, said Deputy Prime Minister Vuong Dinh Hue.
Vietnam’s central bank has to engage in a delicate balancing act as the US-China trade war exerts inflationary pressures on the dong.
There will be no big changes in market prices in the remaining months of this year, price management officials said at a conference on market price developments in the first half and forecasts for the whole year in Hanoi on July 3.
Vietnam’s consumer price index (CPI) in June expanded by 0.61% over May, the highest pace over the past six years, the General Statistics Office (GSO) announced on June 29.
The outlook for Vietnam’s economic growth in 2018 is quite bright thanks to positive economic performance in the first quarter, said Tran Quoc Phuong, Director of the Ministry of Planning and Investment's National Economic Issues Department.
Prices of oil and petrol slightly dropped by 300 VND per litre following the latest adjustment of the Ministry of Industry and Trade and the Ministry of Finance on June 22.
The domestic market remained stable in May with total revenue from goods retail sales and services exceeding VND354 trillion (US$15.6 billion), up 1.5% against the previous month and 10.4% year-on-year.
The consumer price index (CPI) in May was at the highest level in the past six years, but the Government affirmed its capacity of controlling inflation, as heard at a press conference on the monthly cabinet meeting.
The Ministry of Finance (MoF) has drafted a circular on rules and methods of collecting information and reporting market prices of some domestic goods and services.
Deputy Prime Minister Vuong Dinh Hue, who is also head of the National Steering Committee on Price Management, has asked for more efforts to keep core inflation at between 1.6-1.8% in the remaining months of 2018.
Despite Brexit and the US withdrawal from the TPP, which are expected to have adverse effects on Vietnam’s economy, foreign experts and investors still have a positive impression of the economy’s performance.
Vietnam has kicked off the Year of the Dog with major investment deals in private equity, showing investors’ confidence in the fast-growing sector.
VOV.VN -Economic experts have argued that keeping inflation rate in check is a feasible target for this year, however, there are some risks requiring flexible price control management.
Hanoi and Ho Chi Minh City have seen real estate sector transactions reach a total volume of more than US$2 billion in the last two years.
The Ministry of Finance (MoF) has outlined three scenarios for inflation in 2018, with the consumer price index (CPI) in all circumstances staying below 4%, the target set by the National Assembly.