Inflation predicted to stay below 4 percent in 2018: Ministry

Hanoi (VNA) - Saigon Thuong Tin Commercial Joint Stock Bank(Sacombank) has successfully reduced its non-performing loans (NPLs) ratio to4.4 percent after operating for a year under a Government-approvedrestructuring scheme.The bank plans to reduce the NPL rate, which stood at 6.68 percent early thisyear, to below 3 percent in 2018.Under the restructuring scheme approved by the Government and theState Bank of Vietnam, Sacombank is allowed to settle its NPLs within 10years, starting from 2017. However, the bank has targeted to complete thedifficult task within five years.Sacombank Chairman Duong Cong Minh said the bank’s restructuringscheme, including shaking up the bank’s organisation and human resources andre-arranging transaction networks and branches, was…... [read more]

Illustrative image (Source: VNA)Hanoi (VNA) – Vietnam’s consumer price index (CPI) inSeptember rose 0.59 percent, the highest level in 10 months except for Augustdue to increasing tuition fees. However, experts said that inflation in thewhole year will stand below 4 percent as such administrative changes that can becontrolled.Specialists from the SSI stock company asserted that there will be noneed to worry about inflation in 2018 as credit in the rest of this year willnot surge.They also expressed hope that management officials and banks will employcareful currency policies towards long-term stability and growth.Some 53 out of 63 localities nationwide raised tuition…... [read more]

Vietnam’s consumer price index (CPI) in September rose 0.59 percent, the highest level in 10 months except for August due to increasing tuition fees. However, experts said that inflation in the whole year will stand below 4 percent as such administrative changes that can be controlled. Specialists from the SSI stock company asserted that there will be no need to worry about inflation in 2018 as credit in the rest of this year will not surge. They also expressed hope that management officials and banks will employ careful currency policies towards long-term stability and growth. Some 53 out of 63…... [read more]

Singapore’s economy expanded by 2.4 percent in the third quarterof this year compared to a year ago, the Ministry of Trade and Industry(MTI) said in its report on advance third-quarter gross domestic product(GDP) data on October 14.The manufacturing sectorgrew by 1.4 percent, lower than the 1.5 percent growth in the precedingquarter, with growth supported primarily by the biomedical manufacturingand electronics clusters. The construction sectoralso experienced a 1.4 percent year-on-year increase, a sharp slowdownfrom the 4.1 percent growth in the previous quarter, due to weakerprivate sector construction activities, the MTI said. It added that the services industry grew by 2.9 percent,…... [read more]

Inflation in March fell to 14.1 percent from a peak of 23 percent last August, the bank noted. Moderated inflationary pressures, coupled with an improved balance oftrade and foreign reserves, should provide the State Bank of Vietnam(SBV) with ammunition for further interest rate cuts during the rest ofthe year, Standard Chartered said, predicting that the refinance ratewould be cut to 12 percent this second quarter and to 11 percent by theend of the year. With inflation down to 14.1 percent inMarch from its peak of 23 percent seven months earlier, along with astable currency, the State Bank had room to…... [read more]

It said the real GDP growthrate in the first half of 2011 was 5.6 percent, and is expected to bearound 5.8 percent for the whole year. Monthly inflation slowed to around 1 percent since June 2011 as stabilisation measures began to take effect. However, inflation is unlikely to decline substantially in the nearfuture because of factors such as commodity prices, minimum wageadjustments, possible hikes in electricity tariffs and marketexpectation of a more accommodating credit policy during the lastquarter of the year. Trade deficit is expected to improvein 2011. Import growth has slowed as a result of stabilisation policieswhereas export growth…... [read more]

It said the real GDP growth rate in the first half of 2011 was 5.6 percent, and is expected to be around 5.8 percent for the whole year. Since June, when stabilization measures began to take effect, monthly inflation has slowed to around 1 percent.However, inflation is unlikely to decline substantially in the near future because of factors such as commodity prices, minimum wage adjustments, possible hikes in electricity tariffs and market expectation of a more accommodating credit policy during the last quarter of the year.Trade deficit is expected to improve in 2011. Import growth has slowed as a result…... [read more]

Hue chaired the committee’s meeting on July 1 to review governmental price management work in the first half of 2017 and plan tasks for the remaining months.During the event, Director of the Ministry of Finance’s Department of Price Management Nguyen Anh Tuan gave attendees an overview of Consumer Price Index (CPI) movement, saying the average CPI in the first six months of 2017 rose 4.15% from the same period last year with monthly inflation rates moving downwards.Core inflation saw an average increase of 1.52% year on year, lower than projected growth of 1.6 – 1.8%, he noted.He noted this was…... [read more]

Particularly, the price of oil-related itemscontracted 13.6 percent in January, after falling 7.4 percent in theprevious month. Inflation for food was kept at 2.2 percent, down fromthe 2.7 percent in December 2014.Overall service prices droppedby 1.2 percent compared to the 1.7 percent decrease in December 2014while road transport cost fell 5 percent.The Monetary Authorityof Singapore (MAS) forecasted the island country’s inflation is expectedto reduce further and only rise in the second half of 2015.Generally,Singapore’s inflation is predicted to fluctuate between minus 0.5 to0.5 percent this year while the core inflation, which excludes landtransport and house rent, is expected to come…... [read more]

Illustrative image (Source: VNA)Hanoi (VNA) – Vietnam’s industrial productionindex grew 9.4 percent in 2017, well above the growth of 7.4 percent in theprevious year, driven by strong expansion in manufacturing-processing (14.5percent).According to the General Statistics Office of Vietnam (GSO),high increases were also seen in electricity production – distribution andwater supply – waste management at 9.4 and 8.7 percent, respectively. Only the mining sector saw an annual reduction of 7.1percent. Director of the GSO’s Industrial Statistics Department PhamDinh Thuy said Vietnam’s industrial growth is mostly based on increases in the numberof enterprises, capital, and labour, while productivity, quality,effectiveness, and competitiveness remain low.Highest…... [read more]




Links Topics : https://news.c10mt.com/2018/01/inflation-predicted-to-stay-below-4.html