Updated Figures in First Month
The General Statistics Office (GSO) has published key indicators of the economy in January. Accordingly, macro-economic stability presents the biggest challenge for the economy.
Even though industrial production went up 21.1 percent against the same period last year, the expansion was still modest as this year’s Tet holiday falls on February instead of January.
Growth factors have improved slowly, especially, budget disbursement only accounted for 6.5 percent of the whole-year target.
Moreover, inventories remained high in the real estate market and surged 21.5 percent in industrial production, and total retail sales just climbed up 8.1 percent, the agency reported
Consumer price index expanded 1.25 percent in January, making it harder for the Government to pull down the last year’s inflation rate of 6.81 percent. This will test the Government’s determination to curb inflation.
Things would be more difficult when the Government targets to increase credit growth to 12 percent and boost the implementation of the “three breakthroughs” relevant to institutional reform, human resource and infrastructure development.
Despite challenges, the economy continued to witness progress with trade surplus estimated at US$200 million, down from US498 million last December.
Foreign direct investment also went up in terms of registered capital (US$281.5 million, up 74 percent) and disbursed volume (US$420 million, up 5 percent).
Meanwhile, the inflow of overseas remittance is expected to increase prior to the Lunar New Year Festival as usual.
VGP
Vietnamese
