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Thursday, December 30, 2010

vietnam interest rate 2011 forecast

vietnam interest rate 2011 forecast : Vietnam's economy grew at its fastest pace in three years in 2010, according to an official estimate released Wednesday, despite concerns over high inflation, a struggling currency and its current account deficit. Gross domestic product (GDP) expanded by roughly 6.8 percent compared with 5.3 percent the previous year, the slowest rate in a decade, the General Statistics Office (GSO) said in a year-end report.

The figures beat the government's target of 6.5 percent growth this year. It is aiming for seven percent expansion in 2011. Recovery in industry, construction and agriculture, coincided with stronger external demand to boost the country's growth rate, the World Bank said in a report this month.

Vietnam to Ease Exchange-Rate Rules
Vietnam will follow a more flexible exchange-rate regime next year while using monetary policy to curb inflation, the central bank said Wednesday, signaling a possible interest-rate increase and another devaluation of the dong.
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Vietnam Targets Inflation Below 3.5% In 1H 2011
Vietnam is aiming to cap inflation below 3.5% for the first half of next year and below 7% for full-year 2011, state media said Monday, citing central bank Gov. Nguyen Van Giau. Giau was speaking at a meeting of the National Assembly's Economics Committee over the weekend, reported the Vietnam News Agency. The country's consumer price index rose 11.75% in December from a year earlier, higher than the government's revised target of a single-digit rise, the General Statistics Office said last week. Read More...

Vietnam Expects 2011 Credit Growth to Slow to 23%
The total liquidity in the banking system is expected to rise as much as 24 percent in 2011, the central bank said. Liquidity is estimated to climb 25.3 percent by end of December from the end of 2009, while total deposits are projected to increase 27.2 percent. Read More...

Vietnam should curb inflation rate below 6 percent
VietNamNet Bridge – As anticipated, Vietnam’s inflation rate in 2010 reaches two-digit level at 11.75 percent. Vo Tri Thanh, Deputy Director of the Central Institute for Economic Management (CIEM), while pointing out the negative impacts of the high inflation on the national economy, emphasized that Vietnam should focus on curbing inflation in 2011, and that the task should be seen as the priority right from the first quarter. Read More...

Curbing inflation top priority of 2011: cabinet meeting
The economy grew healthily with GDP (gross domestic product) rising 5.84 percent in the first quarter, 6.44 percent in the second and 7.18 percent in the third. The country’s GDP grew 6.78 percent so far this year, higher than the parliament’s target of 6.5 percent. Read More... For the latest updates PRESS CTR + D or visit Stock Market news Today

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