Economic growth rate forecast at 5.4% in first quarter: NFSC

Monday, 2015-02-02 17:03:32
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Production and consumption continues to be improved
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NDO - The National Financial Supervisory Commission (NFSC) has forecast that the national economic growth rate will reach 5.4% in the first quarter of 2015 and the growth rate for the whole year will be likely to come to 6.2%, according to the NFSC's report on Vietnam's economic outlook in 2015.

The report showed that inflation in 2015 will remain at a low level, due to the declines in oil and commodities prices in the world market, to stand at around 3%.

According to the report, production and consumption continues to be improved with the industrial production index in January 2015 having recorded a 17.5% year-on-year increase and total retail sales in January seeing an 11.95% year-on-year increase.

NFSC also affirmed that business and investment confidence in Vietnam has been strengthened and maintained thanks to the Government's commitments and efforts to reform administrative procedures and institutions in a bid to improve the business environment. The Business Climate Index (BCI), released by the European Chamber of Commerce in Vietnam for the fourth quarter of 2014, increased from 74 to 78 points, the second highest level since 2010.

NFSC said that the decrease in CPI in 2015 will be a chance to consider the price reduction of several types of goods without creating many changes to the market and the economy. The decline in oil prices is also a good opportunity for lowering transport costs, making good impacts on production and consumption.

The commission also recommended lower interest rates to continue to support enterprises in addition to a flexible monetary, fiscal and exchange rate policy.