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Economic institute releases target forecasts (09/05)
06/08/2010 - 35 Lượt xem
These forecasts were made based on the prospects of the world’s economy and their impacts on Vietnam and its developments.
CIEM also predicted the nation’s inflation rate this year may be either 16.7 percent or even 22.3 percent, and its trade deficit may be equal to 17.3 percent of GDP.
To fulfill this year’s targets, the CIEM suggested ministries, sectors, businesses and localities promote restructuring reform, abide by international commitments and settle issues relating to mechanisms, infrastructure and human resources.
In its report on the nation’s economy last year, the CIEM said the country recorded good results, particularly in the reform of economic management and the nation’s rising prestige in the international arena.
The national economic growth rate reached 8.5 percent in 2007, a record high since 1997, the report said.
However, this is not an impressive figure, CIEM’s Head of Research Department for Economic International Integration Policies, Vo Tri Thanh, said, adding that the nation’s investment rate of 44 percent compared with its GDP was too high.
In the meantime, the proportion of financial, banking and real estate markets only made up less than 2 percent of the nation’s GDP in 2007, he said.
The report also pointed to shortcomings in Vietnam’s economy as it seeks to achieve fast, sustainable development while fulfilling obligations as a member of the World Trade Organisation (WTO). These included a shortage of labour, weak infrastructure and a high inflation rate.
The country’s inflation rate of 12.6 percent based on the consumer price index (CPI) is the highest figure since 1997, the report said.
Source: VNAgency
