past eight months provides experts with the grounds to predict that
Vietnam will achieve a GDP growth rate of 6.7 percent and rein in
inflation to below 8 percent this year.
According to the General Statistics Office, the country raked in 44.5
billion USD in export earnings in the past eight months, representing a
year-on-year increase of 19.7 percent and a three-fold rise over the
yearly plan.
In the review period, the country attained an
industrial production value of over 504 trillion VND, showing a year on
year rise of 13.7 percent which surpassed the yearly plan.
Seeing
those positive signs and the recovery of the global economy, many
cabinet members at their August meeting predicted that the country’s GDP
would reach 7.18 percent in the third quarter.
They forecast
that it would grow at 6.7 percent for the whole year, surpassing the 6.5
percent goal targeted by the National Assembly.
There is a
favourable development in the CPI, as it rose just 0.23 percent in
August over July, constituting a low growth rate in the fifth
consecutive month. It rose just 5.08 percent compared with December,
2009.
If CPI growth is maintained at this speed and grows 0.7
percent a month from now to the end of this year, it is forecasted not
to exceed 8 percent as set early this year.
Experts say in this
difficult circumstance, reining in inflation is significant as it will
enable policymakers to take bolder steps in managing the macro economy
and make the life of people, especially low-income earners, more stable.
To
fulfill the yearly growth targets and deal with elements that can drive
prices up in the remaining months of the year, including natural
disasters, diseases, and fluctuations in the world market, Prime
Minister Nguyen Tan Dung has in the cabinet’s August meeting asked
relevant ministries, sectors and localities to continue providing
businesses with the best conditions they can to boost their production
and exports and lure more local and foreign investment.
He also
asked relevant agencies to intensify the management of prices, bank loan
interest rates and the foreign exchange rate and make adjustments
suitable for actual needs./.
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