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Economic experts expect a modestly positive 2014The economy will gradually recover over the 2014–2015 period with inflation kept at a single digit.

The prediction was made at a scientific seminar in Hanoi on December 12 discussing Vietnam’s economic prospects for 2014.The Ministry of Planning and Investment’s National Information and Socio-Economic Forecasting Centre predicts  the 2014 reduction in corporate income tax, from 25% to 22%, will be a boon to business activity upon taking effect.

Fiscal policies in 2014–2015 will focus on maintaining a low interest rate of 10–13% and creating favourable conditions for businesses to expand production.

Senior World Bank Economist Dr. Doan Hong Quang is optimistic about Vietnam’s 2014 after the country achieved macroeconomic stability, controlled inflation, regained the business community’s trust, pushed up its  Purchasing Managers’ Index (PMI), and increased the number of newly-established enterprises.

He emphasised the Vietnamese economy’s dependence on a global economic recovery.

The seminar explored two 2014–2015 economic growth scenarios. In the first scenario, GDP grows at a rate of 5.67%, with the Consumer Price Index (CPI) climbing to 7%. The second scenario puts the GDP growth rate at 6.2% with CPI  reaching 7.5%.

(VOV)

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