Monetary fiscal policy policy makers

Petrol retail prices in the country have been adjusted many times over the past few months, Photo: Le Toan In Vietnam, gasoline prices continue to increase, and after the adjustment on May 11 by the Ministry of Industry and Trade (MoIT) and the Ministry of Finance, each litre of E5 RON92 petrol increased by 6.5 US cents to $1.26 per litre while RON95 climbed by 6.7 US cents to $1.30 per litre. On May 17, the price of US WTI crude oil remained at a high level of over $114 per barrel while Brent oil maintained its upward momentum at $114.28 per barrel. Before the next adjustment, which was due on May 21, petrol prices in Vietnam were forecast to continue to increase to higher levels. The ministries first adjusted gasoline prices on January 11 due to a decrease in global supply, production output by Kazakhstan and Libya, and oil inventories of the United States. According to Decree No.95/2021/ND-CP, effective from January, there will be three adjustments each month to the … [Read more...] about Vietnam riding the wave of inflationary unpredictability

Vietnam expecting to spend even more on imports - illustration photo Southeast Asia is facing rising inflation, a problem that is exacerbated by the failure of energy and food prices to fall. Last month, the Monetary Authority of Singapore (MAS) tightened monetary policy for the third time since October to deal with inflation that is expected to heat up. According to analysts, the MAS has redefined the midpoint of the popular exchange rate policy band and slightly increased the slope of currency appreciation to help the Singapore dollar strengthen against the currencies of other countries. However, the MAS did not change the width of its policy band – a move the institution usually would take when markets are volatile. As a result, the Singapore dollar rose about 0.5 per cent to $1.35 after the MAS’ move. The agency considered the possibility that core inflation would pick up sharply in the coming months, before being revised later this year, due to the sharp increase in … [Read more...] about Vietnam expecting to spend even more on imports

Tran Quoc Phuong-Deputy Minister of Planning and Investment When planning for 2022, the Ministry of Planning and Investment (MPI) and other ministries, agencies, and localities estimated that several projects could complete investment procedures in the first quarter, and after completing these, capital would be delivered immediately. However, due to the pandemic, many projects have not yet been approved for investment decisions by the end of the first quarter and could not allocate capital, affecting disbursement activities. Moreover, 2022 is a year with many new construction projects. When a new project was started last year, following the Law on Construction enacted in 2021, the disbursements must proceed this year. The National Assembly (NA) has approved the medium-term public investment plan (MTIP), but it can take another 6-7 months to complete the procedures for investment decisions and contractor selections. The flexible adjustment of public investment capital will … [Read more...] about Tackling slowing public investment for good of nation

Illustrative image This has led to a new consensus from different development economies for the need to reduce dependency on one source and improve integration among various countries. However, the process of reducing dependency has led to rising inflation, labor shortages, more regional protectionism, and fluctuating shocks in the global financial world. Under such an unpredictable scenario in global trade it would be surprising if countries such as Vietnam will participate in a monetary system that would be chosen for a global trade chain. New global trends It was not until the 19th century that global integration began to develop. However, this trend of globalization eventually waned and collapsed during World War I, and was followed by postwar protectionism, the Great Depression, and finally the long and brutal World War II. When World War II ended in the mid-1940s, the United States led the efforts to restore international trade and investment under several set ground … [Read more...] about Vietnam has choices under new global trends