Dinar Daily
Would you like to react to this message? Create an account in a few clicks or log in to continue.

Get Daily Updates of the NEWS & GURUS in your EMAIL
CHECK YOUR EMAIL for VERIFICATION

Enter your email address:

Vietnam inflation eases, growth slows DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Vietnam inflation eases, growth slows

3 posters
Post new topic   Reply to topic

Go down

Vietnam inflation eases, growth slows Empty Vietnam inflation eases, growth slows

Post by lexie Sat Sep 24, 2011 8:24 am

Sep 24, 2011 02:54 EDT




Vietnam inflation eases, growth slows






Vietnam's inflation rate eased for the first time in over a year in September, according to official estimates, but economic growth was lower amid government efforts to rein in prices.

The consumer price index (CPI) slowed to 22.4 percent year-on-year in September from 23 percent in August, the General Statistics Office reported on Saturday, following 12 straight months of rises.

Long focused on growth, Vietnam has shifted its focus to battling Asia's highest inflation rate in recent months, with a package of fiscal and monetary tightening to try to restore faith in the shaken economy.

The statistics office reported output growth eased slightly to 5.76 percent year-on-year in the first nine months of 2011, compared with 6.54 percent in the same period of 2010. The country's year-end target is around six percent.

The Asian Development Bank said earlier this month that Vietnam must continue to battle rising prices and the country is expected to see annual inflation average 18.7 percent in 2011.

The rising consumer prices have been driven by soaring food costs.

Vietnam aims to keep inflation at about 15 percent this year, up from seven percent initially planned late last year.

The government is working to address various issues including a large trade deficit, weak currency, and inefficient state spending as well as inflation.

On Friday the statistics office said Vietnam's trade deficit in the first nine months was estimated at $6.84 billion, compared with $8.5 billion for the same period last year. The trade deficit was estimated at $12.4 billion in 2010.

The United Nations in May said the communist nation has one of the world's five highest inflation rates. However, it remains below a recent peak of 28.3 percent seen in August 2008, and far from the triple-digit figures of the 1980s.

Source: AFP Asian Edition
http://www.newsmeat.com/news/meat.php?articleId=119257155&channelId=2951&buyerId=newsmeatcom&buid=3281




*****************
"WHEN THE POWER OF LOVE OVERCOMES THE LOVE OF POWER, THE WORLD WILL KNOW PEACE"
lexie
lexie
Elite Member
Elite Member

Posts : 1812
Join date : 2011-06-24

View user profile

Back to top Go down

Vietnam inflation eases, growth slows Empty Re: Vietnam inflation eases, growth slows

Post by bobbysac Sat Sep 24, 2011 8:37 am

i wonder if they will revalue because of inflation

bobbysac
Forum Friend
Forum Friend

Posts : 117
Join date : 2011-06-18

View user profile

Back to top Go down

Vietnam inflation eases, growth slows Empty Re: Vietnam inflation eases, growth slows

Post by Cardiac99 Sat Sep 24, 2011 4:45 pm

That would sure be nice. I hope that it will r/v for at least $.25USD. That would set me up just fine.
Cardiac99
Cardiac99
Elite Member
Elite Member

Posts : 552
Join date : 2011-07-06
Age : 59
Location : Choctaw, Oklahoma

View user profile

Back to top Go down

Back to top

- Similar topics

 
Permissions in this forum:
You can reply to topics in this forum