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Viet Nam strives to keep 2007 CPI at 6.8 percent

06/08/2010 - 199 Lượt xem

Viet Nam needs to keep the 2007 consumer price index (CPI) at 6.5-6.8 percent, well below the country's projected GDP growth rate for the year, said regulators.

According to experts of the Market Management Team, relevant authorities will devise their measures to maintain the supply-demand balance, increase quality of goods and services, reinforce market management regulations, and control smuggling activities and trade frauds.

The team forecast that local market would experience various difficulties in 2007 due to complexities caused by unforeseen weather situation and epidemic diseases, especially possible widespread drought which is expected to severely affect the agricultural sector.

The rise of electricity and coal prices will also bring about the increase of production costs of various products in the market.

Fierce competition brought about by Viet Nam's WTO accession and tariff cuts, however, would force local enterprises to restructure their production and trading activities towards increasing quality and reducing prices, predicted market managers.

Source: Vietnam Agency