Trade deficit likely to stay at below US$1 billion/month

Vietnam is likely to maintain its monthly trade deficit at less than US$1 billion in the remaining months of this year, said Deputy Minister of Industry and Trade Nguyen Thanh Bien at a press conference in Hanoi on September 4.

The press briefing was held by the Government Office to inform the media of the results of the Government’s monthly session in August.

The country’s trade deficit fell to US$900 million in August, marking the second month that Vietnam has recorded a trade deficit of less than US$1 billion per month. Deputy Minister Bien attributed this to a recent reduction in the price of some essential goods, including petrol. In addition, the Government has extended the time scale for the implementation of several key projects to curb inflation and lower the trade deficit.

Speaking at the press conference, Minister and Chairman of the Government Office Nguyen Xuan Phuc said that the Government had discussed a score of new measures for socio-economic development to submit to the 12th National Assembly’s upcoming session.

VOV

>   Issuing international bonds: good idea, but not easy (05/09/2008)

>   Local gold prices slightly up due to suspended imports (05/09/2008)

>   Agribank assigned to serve ADB-funded project (05/09/2008)

>   Notice of Government bond bidding issued by Vietnam Development Bank (Round 6.2008) (04/09/2008)

>   World’s gold prices plunging, Vietnam’s decreasing slowly (04/09/2008)

>   Central bank to review credits for export (04/09/2008)

>   Foreign banks take advantage of credit crunch (04/09/2008)

>   ACB to pay 55 percent dividend on 2007 earnings (04/09/2008)

>   Tax department revels in int’l aid for reforms (04/09/2008)

>   Be watchful over inflation: experts (04/09/2008)