Vietnam April CPI Likely to Rise 0.3 per cent on Month: Ministry

The Vietnamese Ministry of Industry and Trade has forecast in a statement that consumer price index in April will likely to soar 0.3 per cent from March.

 

The forecast hike is attributed to rising domestic consumption demand as a result of the government’s strong efforts, the ministry highlighted.

 

Total retail sales of goods and services in March reached VND88 trillion, up 1.8 per cent from March, and hit VND270 trillion from Jan to Mar, up 21.9 per cent, according to GSO.

 

Prices of food and fertilizer are stable in northern Vietnam while slightly rise in southern Vietnam, it added.

 

The government has said to spend an additional VND60 trillion to boost investments, enacting the second US$1 billion stimulus package to pump low-cost loans to the economy till 2011.

 

Banks and finance firms loaned approx US$13 billion to the economy as of April 10 and they are trying to boost lending as total outstanding loans in the first three months were up 2.67 per cent against end-2008 and far below the set target of 21 per cent to 23 per cent for this year. (Capital Security)