Inflation Remains In Check, For Now

August 2003
Asia Monitor: South East Asia Monitor Volume 1;Aug2003, Vol. 14 Issue 8, p6
Country Report
Country Report
This article presents information related to the economy of Vietnam, as of August 1, 2003. In June, consumer prices rose 3.2 percent year-on-year. Annual inflation has fluctuated around 3-4 percent so far this year, after 3.9 percent in 2002. Against the backdrop of fairly buoyant economic growth, consumer prices are likely to edge up but are expected to remain in single digits. In April, the State Bank of Vietnam, the central bank, raised its monthly base lending rate to 0.625 percent from 0.62 percent previously. While Vietnam's economy is growing strongly for now, improved capital allocation would boost investment and may go some way to reduce the country's widespread poverty. Despite concerns of foreign investors, Vietnam will continue to attract investment in low-end labor intensive manufacturing.


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