Viet Nam can keep inflation below 4 per cent in 2019 despite an unpredictable world economy, experts told a seminar on market developments and prices held in Ha Noi on Thursday.
The rest of this year is likely to be a difficult period for the economy meaning challenges for the Government in achieving the targets set for the year.
Fiscal consolidation, together with low inflation rates in 2018, are chief drivers for Viet Nam’s continuously stabilising macro economy in the context of rising global trade protectionism and turmoil, said the Asian Development Bank (ADB).
This was due to the combined effort of the government and financial economic administrative agencies, Nguyen Bich Lam, director general of the General Statistics Office of Viet Nam (GSO), said.
The Government and its agencies will have to make their best efforts to
ensure inflation growth stays below 5 per cent at the end of this year,
Deputy Prime Minister Vuong Dinh Hue said at a meeting on October 19.
State price management agencies will face many challenges in the second
half of the year if they are to meet the National Assembly''s (NA) target
of keeping inflation under 5 per cent, experts said at a conference
held yesterday.
Inflation is expected to dip lower next year, which could give the
central bank room to cutback loan interest rates, according to the
Ministry of Planning and Investment.
HSBC''s Vietnam at a Glance monthly report has said inflation is likely
to gradually accelerate, especially in the second half, but remain under
control, enabling the central bank to keep interest rates low.