The State budget revenue as a proportion of gross domestic product (GDP) in the 2016-2020 period will still hover around 20-21%, according to an action program just issued by the Government to implement Resolution 07-NQ/TW of the Politburo.
Vietnam’s economic growth this year will reach only 6.21 per cent, lower than the 6.68 per cent recorded in 2015 and the target of 6.3 per cent set by the government at its regular meeting in September 2016
The price of RON 92 declined by 862 VND per litre to 16,504 VND (0.72 USD) from 3:00pm on June 20 as decided by the Ministry of Industry and Trade and the Ministry of Finance.
The policy of zero interest rate on USD deposits is showing some shortcomings and the State Bank of Vietnam (SBV) may need to increase it, especially in light of certain pressures on the VND/USD exchange rate.
In the first five months of the year, the average inflation rate was at 4.47 percent. But the commission forecast that inflation would drop toward the end of the year due to stability of food and restaurant prices.
The World Bank (WB) released its Global Economic Prospects report on June 4, forecasting a global 2017 economic growth rate of 2.7 percent and a Vietnamese growth rate of 6.3 percent, lower than the 6.7 percent goal set by the government.
“GDP growth has important significance for Vietnam as it creates resources for investment & development, generates jobs, and increases the budget revenue to spend more on investment and social welfare, contributing to political stability,”
