Vietnam’s GDP growth seen at 6.5pct and CPI at 10pct in 2012: MoPI

Ministry of Planning and Investment (MoPI) has recently submitted the country’s economic growth plan for 2012 whereby it said that the country should focus on curbing inflation, stabilising the macro economy, achieving seasonable growth and economic and restructuring the economy.

Accordingly, Vietnam’s GDP (gross domestic product) growth target would be about 6.5 percent, export at $101.7 billion, state budget deficit at 4.8 percent of GDP and CPI (consumer price index) at less than 10 percent in 2012.

Ministry of Finance (MoF)’s budget report also forecasted Vietnam’s public debts in 2012 would be at 58.2 percent of GDP. MoF said the majority of Vietnam’s public dents would be long terms with low interest rate.

In 2011, MoPI forecasted the country’s GDP would be at 6 percent, CPI may be up to 18 percent and the state budget deficit at 4.8 percent of GDP.

The ministry also said the total social investments will decrease strongly year-on-year, contributing to reducing the total demands and curbing inflation. The total means of payment and outstanding loans will increase much slower than previous years. The supply and demand of foreign currency would be stable and foreign currency reserve will increase significantly from early this year. The current biggest difficulty is huge capital needs amidst too high interest rates.

 

Category: Economy