Vietnam Improves Macro Forecasting Capacity

The PM has recently approved a project to strengthen macro forecasting capacity, which will focus on enhancing capacity of those working in the field along with increasing investment and creating a financial mechanism, bettering the mechanism of assignment, coordination, and implementation, and expanding international cooperation, in the area. 

 

The project is viewed as paving the way for relevant ministries and agencies to set up units specializing in forecasting and collaborate in the field.

The PM has also decided to establish a steering board, to be headed by a Deputy PM and assisted by senior officials from relevant ministries, to oversee the execution of the project.  

Regarding socio-economic forecasting, the five-year project will see how domestic and foreign elements would affect the country’s key policies and strategies, needs and use of national natural resources, domestic demands for essential commodities, as well as exports and imports.

 

In addition, it is required to make forecast on consumption demand, investment, pricing, inflation, and real estate, finance, currency and securities markets to aid the Government and ministries in managing and stabilizing the macro-economy.