Inflationary pressure to ease in 2024: Economists
According to economists, despite a host of difficulties forecast for 2024, inflation will not be a big issue for Vietnam in the year. (Photo: VNA)
Economists at a workshop in Hanoi on January 4 shared the view that despite a host of difficulties forecast for 2024, inflation would not be a big issue for Vietnam in the year.
Speaking at the workshop, jointly held by the Institute of Economics and Finance under the Academy of Finance and the Price Management Department at the Ministry of Finance, Deputy Director of the Institute Nguyen Duc Do explained that the world economy, especially the US and China, is expected to slow this year.
Given this, Vietnam’s exports are projected to remain modest, he said. The struggling real estate market will adversely affect the entire economy and lead to low growth in the year.
Do also set out several scenarios for the consumer price index (CPI) growth, the main gauge of inflation, ranging from 2.5% to 3.5%.
Participants at the workshop. (Photo: hanoimoi.vn)
Economist Dinh Trong Thinh said Vietnamese enterprises will optimise opportunities generated by free trade agreements (FTAs) and the economy would grow 5.5%-6.5%, with inflation hovering around 3.2% - 3.5%.
Associate Professor, Dr. Ngo Tri Long stressed that the inflation target of 4% - 4.5% approved by the National Assembly would be possible thanks to the Government’s experience in price management, plus aggregate demand yet to show signs of rebound.
However, the factors that cause inflationary pressure still remain, but the outlook is better in a number of countries, reducing the once high CPI growth forecast due to service fee adjustments, heard the workshop.
Its Price Management Department will also keep a close watch on economic developments and impacts of global inflation on Vietnam to take appropriate solutions, while closely monitoring the domestic market to give policy consultation and flexible management scenarios.
Statistics show that Vietnam’s CPI rose 3.25% in 2023, much lower than the target of about 4.5%.
Economists reported that the building of price management scenarios that match the reality is an important basis to control inflation./.
Related News
Latest News
"Creativity in revenue collection to achieve set goals in difficult contexts"
14:55 | 10/05/2024 Finance
Strive to effectively implement Global Minimum Tax in Vietnam
10:22 | 10/05/2024 Finance
State Treasury raises over $890 million worth of G-bonds in April
14:46 | 09/05/2024 Finance
State expenditure in the first four months of 2024 reaches VND522.2 trillion
09:54 | 09/05/2024 Finance
More News
SBV ready to intervene to stabilise foreign exchange rate: Deputy Governor
15:41 | 08/05/2024 Finance
Warn about the fraudulent tricks of stock investment
16:30 | 07/05/2024 Finance
State budget revenue estimated at VND733.4 trillion
14:40 | 06/05/2024 Finance
Six localities should expedite site clearance and public investment
10:36 | 05/05/2024 Finance
Banks announce plans to significantly increase capital
15:11 | 04/05/2024 Finance
Minister of Finance Ho Duc Phoc receives Ambassador Extraordinary and Plenipotentiary of Japan to Vietnam
13:47 | 04/05/2024 Finance
Banks strengthen information security systems
14:55 | 03/05/2024 Finance
“Opportune environment” for growth of insurance enterprises
10:15 | 03/05/2024 Finance
Closely monitoring fluctuations to calculate the appropriate time to adjust prices
15:35 | 02/05/2024 Finance
Your care
"Creativity in revenue collection to achieve set goals in difficult contexts"
14:55 | 10/05/2024 Finance
Strive to effectively implement Global Minimum Tax in Vietnam
10:22 | 10/05/2024 Finance
State Treasury raises over $890 million worth of G-bonds in April
14:46 | 09/05/2024 Finance
State expenditure in the first four months of 2024 reaches VND522.2 trillion
09:54 | 09/05/2024 Finance
SBV ready to intervene to stabilise foreign exchange rate: Deputy Governor
15:41 | 08/05/2024 Finance