Under a proposal by the government scheduled to be submitted to the National Assembly of Vietnam for approval, Vietnam will continue to prioritize inflation reduction, striving for an ideal inflation rate of 12 percent next year, he said.
The country will also strive to post a single-digit inflation rate in December 2009 or January 2010, helping to ensure macroeconomic stability and social welfare improvement, Phuc added.
In 2008, Vietnam is estimated to post economic growth of 6.5-7 percent, he said, adding that Vietnamese Prime Minister Nguyen Tan Dung, at a regular government meeting from September 3-5, asked localities and sectors to do more in striving for GDP growth of 7 percent this year.
The country will aim to keep the inflation rate around 25 percent in 2008, though it is difficult to realize such a target in the current context, Phuc said.
During the government meeting, the prime minister said Vietnam had made economic progress in the first eight months of this year. The country’s industrial production value reached VND56 trillion (US$3.39 billion) in the eight months, up 16.1 percent over the same period last year.
Meanwhile, Vietnam’s trade deficit saw a trend of gradual decrease, standing at $16 billion in the first eight months, equal to nearly 36.9 percent of its export revenues; compared with 40.7 percent in seven months, and 46.4 percent in six months.
The economy, however, still faced some problems during the period including a high inflation rate, a large percentage of poor households, and natural disasters, Phuc said.
Reported by Ngan Anh |
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