Vietnam inflation hits 10-year low

Hanoi (dpa) - Vietnam posted an inflation rate of 6% in December, the lowest level in the past 10 years, the government said on Monday.

Bui Quang Vinh, minister of planning and investment, said the reduced rate helped the government to stabilise the macroeconomy.

The economy is expected to grow 5.4% this year, below the government’s target of 5.5%.

A slowdown in gross domestic product growth was caused by government efforts to tighten credit growth, to trim public investment and the budget deficit.

Vinh said the 5.4% growth was reasonable considering the government's priority to contain inflation.

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Discussion 1 : 23/12/2013 at 05:44 PM
Deflation will sweep SE Asia like a firestorm as the hot money flees for the exits. Vietnam's banks are already a waiting disaster of overleveraging and NPL's.

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