The Hanoitimes – Higher inflationary pressure, unstable crude oil and gas prices from geopolitical tension and the ongoing US – China trade war are among major risks to Vietnam's economy this year. Vietnam is forecast to reach GDP growth of 6.48% in 2020 amid growing global uncertainties, meaning the 6.8% target set by the National Assembly is very challenging, said Nguyen Duc Thanh, director of the Vietnam Institute for Economic and Policy Research (VEPR). Overview of the workshop. Source: Ngoc Thuy. Higher inflationary pressure, unstable crude oil and gas prices from geopolitical tension in Iran and the ongoing US – China trade war are among major risks to Vietnam's economy this year, said Thanh at the launch of VEPR's quarterly macroeconomic report on January 16. Thanh cited the consumer price index (CPI) last December which rose over 5% versus the end of 2018, due to a surge in food prices, as a reason for concern. The upcoming Lunar New Year festival is expected to boost consumption demand, and, therefore, could lead to a strong push to the CPI. Data: VEPR’s report. Chart: Ngoc Thuy. In 2019, despite the second consecutive annual growth of over 7%, the sustainable development of the… Read full this story
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