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Sales still rise 28pct; 2011 inflation to hit 18pct
The General Statistics Office of Vietnam announced the country’s first six months’ socio-economic indexes in Hanoi Wednesday. Tuoi Tre had an interview with some of its leaders.
With budgetary spending in the first six months increasing 8 percent, is it possible to say that many localities did not seriously carry out the government’s thrift policy?
Ms. Ho Thanh (Head of Construction and Investment Capital Statistics Division): Compared with a year ago, the increase is true. Compared with the year’s plan, the budget investment in the six months is only 38 percent instead of the planned 50 percent. That means the cuts in budgets have seriously been caried out.
In the first six months of 2011, budget investment grew but the state sector’s investment dropped by 3 percent. Which fields suffer a decrease?
Ms. Ho Thanh: In the past six months, investment from bonds and investment credits descended sharply. Business groups and corporations have suspended 907 projects worth VND39.2 trillion (US$1.9 billion), according to reports by 23 business groups and corporations.
People and businesses said they face many difficulties. The consumer price index (CPI) remains high but the General Statistics Office’s figures show things are optimistic?
Mr. Pham Dinh Thuy (Head of Industrial Statistics Division): The production sector is facing difficulties but competent agencies of different sectors and levels adopted timely solutions, especially for small and medium enterprises. We have updated the results of a business survey for 2011 showing that businesses still grew by 21.2 percent.
Businesses’ earnings in 2011 still increased 28 percent year on year. Many businesses had difficulties but switched to other fields rapidly or still tried to carry on though their profit fell.
That’s the survey on 4,300 large-scale businesses, which account for about 50 percent of the country’s production value.
Minister of Planning and Investment Vo Hong Phuc said the inflation of 2011 would have to be at 17-18 percent. Does the General Statistics Office agree with this figure? Why?
Mr. Nguyen Duc Thang (head of Pricing Statistics Division): The CPI by June 2011 is 13.29 percent, so I think reaching the year’s 15 percent target set by the Government is no longer feasible. I agree with Minister Vo Hong Phuc that this year’s inflation must be approximately 17-18 percent. Towards the end of the year, the CPI usually soars strongly.
According to statistics as of 2004, the CPI in the last six months often advances by 2.4-6.6 percent. So in the last six months of this year, I suppose the CPI will continue to rise by 2.5-3.9 percent. Therefore, the whole year’s figure will have to exceed 17 percent.
Vietnam’s CPI for the first six months is 20.8 percent compared with last year’s equivalent period.
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