Vietnam might face inflation of up to 30 pct this year
2/7/2008 15:48
Vietnam is likely to post increase of 25.5-30 percent in consumer price
index (CPI), its inflation rate, this year, local newspaper Youth today quoted
the prediction of the country's General Statistics Office as reporting.
CPI
in the first half of this year rose 20.34 percent against the same period last
year. Meanwhile, Vietnam's gross domestic product (GDP) grew 6.5 percent,
compared with the growth of 7.91 percent in the same period last year.
The
country made export turnovers of nearly US$29.7 billion and import turnover of
roughly US$44.5 billion between January and June, recording respective
year-on-year surges of 31.8 percent and 60.3 percent, the office said.
During
a regular government meeting on July 1, Vietnamese cabinet members discussed
measures which prioritize fight against inflation in the remaining months of
this year, local newspaper People's Army said today.
The measures include
tightening monetary policies, flexibly using interest tools to manage credit
growth, applying flexible foreign exchange rates to promote export and limit
trade deficit, preventing goods and currency speculation, and cut down on
regular state spending.
Vietnam, posting economic growth of 8.48 percent last
year, has targeted GDP growth of seven percent this year and 7-7.5 percent next
year.
Xinhua
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