2017 was considered as a successful year in controlling inflation, with the figure kept under the set target of 4 percent compared with 3.53 percent in 2016. In 2018, the Vietnamese government aims to control the consumer price index at around 4 percent. Economic experts said it’s a feasible target, however there are some risks, requiring careful and flexible price control management. The success in keeping inflation under 4 percent and achieving positive economic growth in 2017 created momentum for adjusting the State’s policies such as interest rate reduction in 2018, helping ease difficulties for businesses. According to experts there are some risks, requiring careful and flexible price control management. Nguyen Anh Duong, Head of Macro Economic Policy of Central Institute for Economic Management said: “Some factors that could affect inflation control are price adjustments of State-owned goods such as electricity price or price hikes in 2018, all these factors can cause pressure on inflation and the government as well as people”. According to Nguyen Tien Thoa, Deputy Chairman/Secretary General of Vietnam Valuation Association, there are many risks such as natural disasters and weather. If we don’t prepare well there will be price hikes, he added. The expected price increases… Read full this story
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