VietNamNet Bridge - The lowering of the targeted credit growth rate to 20 percent, the five-year lowest will lead to capital shortage for the production sector, because the capital will be transferred from the public to the private sector, officials of the State Bank and experts say. … [Read more...] about SBV says lower credit growth rate will not affect production sector
Sector growth rates
Minister of Trade Truong Dinh Tuyen Minister of Trade Truong Dinh Tuyen explains why the export targets set by the ministry are even higher than the targets set by the Government. Why has the Ministry of Trade set such a high export growth rate target for 2007? The Government has decided that the export growth rate must reach 17.4% in 2007. However, the Ministry of Trade wants to see the growth rate of 20% or higher. There seems to be a link between the export growth rate and GDP growth rate though no economist can give the coefficient that shows the link. However, it is clear that it is necessary to boost exports to gain higher GDP growth. The Government has set the GDP growth rate of 8.5%, which means that production increase must not be below 20%. Though we have opened the domestic market, domestic consumption will still be low due to the limited purchasing power; therefore, we need to boost exports. What will the exports in 2007 rely on? The structure of the main export … [Read more...] about How to gain high export growth rate for 2007?
Asian Development Bank released its annual publication, the Asian Development Outlook 2012 (ADO) on April 11, in which it forecasts that Vietnam’s GDP growth rate would slow to 5.7 per cent in 2012 before picking up to 6.2 per cent in 2013. Inflation is forecast to trend down this year, reflecting policy tightening and strong base set for consumer price index in 2011. Food price inflation is abating. Weather conditions for agriculture were generally favourable in the first quarter of 2012 and global food prices are projected to ease this year. Average inflation this year could ease to just under double digits, provided policy settings are kept sufficiently firm. However, experts said that core inflation, which excludes food and energy, will be more persistent. Year average inflation in 2013 is seen quickening to 11.5 per cent due to economic growth and on expectations of higher global food prices and hikes in domestic electricity and fuel costs. ADO supported Government … [Read more...] about Vietnam’s GDP growth rate 5.7per cent this year: ADB
Prime Minister Nguyen Xuan Phuc requested ministries, sectors and localities to exert efforts for an economic growth rate of 6.7 per cent in 2018, at the Government teleconference with provinces and cities on December 29. He stressed the need to create stronger transformations in regards to the vitality and competitiveness of the economy as well as of each sector, each locality, each business and also national products. Especially, the PM asked for measures to build a self-reliant economy in accordance with the new situation, urging both the national and local level to bring into full play advantages in order to realize this requirement. He mentioned a number of challenges for Viet Nam in 2018, which he said, is an important year to complete the socio-economic tasks set for the 2016-2021 period. Highlighting the need for mechanisms to mobilize social resources, the Government leader requested that the total social investment capital must be equivalent to 34 per cent of the … [Read more...] about PM Calls for Doubling Efforts to Achieve Growth Rate of 6.7 Pct in 2018
Vietnam should target a lower economic growth rate of 6.5 percent instead of the 7 percent detailed in the five-year socio-economic development plan (2011-2015). The warning was made by ambassadors and representatives from international organizations at a seminar held by the Ministry of Planning and Investment in Hanoi on October 4. Deputy Minister of Planning and Investment Cao Viet Sinh said that the main goals of the draft socio-economic development plan are to give priority to curbing inflation, stabilizing macro-economy and maintaining a reasonable rate of economic growth. Especially, there are two economic scenarios. In the first scenario, it is forecast that the economic growth rate for 2012 will stand at 6.5 percent. In the second scenario, economic growth is expected to reach 6.5 percent by 2012. However, between 2013 and 2015, the rate will increase to 7 percent when the world's economic difficulties should have subsided and with Vietnam's inflation successfully … [Read more...] about Vietnam urged to select a lower economic growth rate