Positive signals of the economy
09:38 | 26/06/2011

VGP – The national economy has seen clearly emerging positive signals over the past six months, according to a recent report to the National Assembly’s Committee for Economic Affairs.

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First of all, for the financial-banking sector, exchange rate has gradually and stably fell down to less than the ceiling rate stipulated by the State Bank of Việt Nam (SBV), says the report prepared by the Ministry of Planning and Investment.

Commercial banks have been successfully brought in a large quantity of foreign currency volume from individuals and businesses.

The country’s foreign currency reserve has also been increased following the SBV’s decision to buy in US $3 billion.

By June 10, the total means of payment only went up by 2.33% and credit growth expanded at 7.05% against December of 2010.

The total export turnover in June was estimated at US $41.5 billion, a year-on-year increase of 27.8%, and three times higher than the NA’s preset target.

Of the exports, many commodities posted robust export earnings, with coffee up 81%, rubber up 96%, and garment, 30.3%.

In terms of market, Việt Nam’s exports to the US rose by 22%, to EU by 35%, Japan by 23%, and China, 40%.

Meanwhile, the import value in the month was estimated at US $ 49 billion, up 26.4% against the same period last year, pushing the trade deficit to US$7.5 billion, or 18% of the country’s total export turnover. The Government planned to keep the trade deficit under 16%.

Regarding the consumer price index, the last two months have seen a consecutive decline. The index may rise by 1.2 – 1.4% in June compared to 2.21% in May, according to the Ministry of Finance’s calculation./.

By Hải Minh

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