Thanks to low inflation resulting from decreases in oil and goods prices, improved production and consumption, Vietnam finds it workable to meet the economic growth target in 2015, said Vietnam's National Financial Supervisory Commission (NFSC) on Monday.
According to a report on the country's economic prospects in 2015 released by the NFSC on Monday, on conditions of other factors remaining unchanged, the NFSC made a prediction that the decrease in crude oil price this year will drive the average 2015 consumer price index (CPI) to decrease 1.1 percentage points compared to that of 2014 and be stable at around 3 percent.
The higher Index of Industrial Production (IIP) in January standing at 17.5 percent than the level of January 2014 and the whole year 2014 also presents a signal for recovery of the country 's production, said the NFSC.
The commission forecast that Vietnam's gross domestic product ( GDP) in the first quarter of 2015 will expand 5.4 percent, higher than that of the same period in 2014.
The uptrend in Vietnam's economic growth will continue in the next quarters, making the target of GDP expansion of 6.2 percent in 2015 feasible, the report added.
Source: Xinhua
Keywords: Vietnam, economic growth, target, oil price
