In 2018, the Vietnamese government aims to control the consumer price index at about 4% and adjust State policies such as interest rate reduction in thus helping alleviate hurdles for businesses. According to Nguyen Tien Thoa, Deputy Chairman/Secretary General of Vietnam Valuation Association, there are latent risks such as natural disasters and weather and price hike of energy and resource groups on the global market have affected domestic gas and oil retail prices, an input of manufacturing sectors. In the first month of 2018, increases in electricity and petroleum prices pushed consumer price index to 0.51% higher than that in December 2017. Nguyen Anh Duong, Head of Macro Economic Policy of Central Institute for Economic Management says some factors possibly affecting inflation control are price adjustments of State-owned goods such as electricity price or price hikes in 2018 thereby putting higher pressure on inflation and the government as well as people. Economic expert PhD. Nguyen Minh Phong underscores the need to pay special attention to keep a check on inflation in 2018 as it’s part of 2017’s growth result as well as the easy-money policy of Vietnam and the world. More initiatives and effective measures should be taken ensure market stability and keep inflation below 4% as targeted.
Viet Nam News HÀ NỘI - The Department of Price Management will seek to improve market analysis and forecast in oder to implement appropriate policies and control inflation at 4 per cent, as set by the National Assembly for 2017, Deputy Minister of Finance Trần Văn Hiếu said. At a conference on Thursday, Hiếu asked the price watchdog to tighten price management to prevent dramatic price hikes ahead of the Tết (Lunar New Year) holiday, especially in areas recently hit by natural disasters. Although the macro-economy is expected to remain stable in 2017, potential exists for a rise in inflation,…... [read more]
Hanoi (VNA) — The Department of Price Management will seek to improve market analysis and forecast in order to implement appropriate policies and control inflation at 4 percent, as set by the National Assembly for 2017, Deputy Minister of Finance Tran Van Hieu said. At a conference at the end of December, 2016, the Deputy Minister asked the price watchdog to tighten price management to prevent dramatic price hikes ahead of the Tet (Lunar New Year) holiday, especially in areas recently hit by natural disasters. Although the macro-economy is expected to remain stable in 2017, potential exists for a rise…... [read more]
Finance Minister Vuong Dinh Hue has asserted that Vietnam will regulate the prices of electricity, coal and petroleum in accordance with market fluctuations beginning in 2013. This means that electricity prices may be hiked to offset costs. Not only effecting electricity, a similar move will also be applied to petroleum and coal. "We cannot subsidise everything and cross-compensate like now." Remarking on this issue, Mr Nguyen Tien Thoa, Director of Price Management Department under the Ministry of Finance, said the Government will continue with the market-driven pricing roadmap to regulate prices of State-controlled commodities like electricity, coal and petroleum to…... [read more]
Economists are warning that the recent 10-percent increase in price of gasoline will cause consumer prices to surge, making it much more difficult for the government to limit inflation to single digits. Inflation was expected to fall below 10 percent this year, but consumer prices have already risen 2.36 percent in the first two months alone, leaving only 6.64 percent for the remaining ten months, said Ngo Tri Long, former deputy head of the Market and Price Research Institute. Now that fuel prices have been raised, there will be more upward pressure on consumer prices, Long told news website VnExpress,…... [read more]
The Ministry of Finance (MoF) has proposed the government of Vietnam to delay the scheduled time [after June] for price increases of key commodities in order to curb inflation, the Labor newspaper reported May 19. Prices of ten goods items such as power, water, coal, cement and steel, which directly affect CPI, are suggested to be kept unchanged for an additional time, the newspaper said. Regarding petroleum, the ministry proposed continuing subsidy for traders' losses. In urgent case, crude oil price in the world market stands too high [exceeding local traders' withstanding], the ministry will consider a suitable price hike…... [read more]
