Vietnam Fin Min to Keep Coal, Power Prices Stable through End-2010

The Vietnamese Ministry of Finance has approved a plan to keep prices of coal and electricity stable through the year-end to ensure macroeconomic targets, including GDP growth of 6.5% this year, said Minister Vu Van Ninh.

 

The ministry will coordinate with the Ministry of Industry and Trade to supervise petroleum market to prevent consecutive price hikes, impacting consumers and producers, he said.

 

In the first quarter of this year, Vietnam’s economy grew 5.83% and saw its consumer price index up 4.07% against the same period last year.

 

The national CPI in April is estimated to have increased 0.14% from March, the slowest monthly pace over a year as a result of lower costs of foods and foodstuffs, the government’s General Statistics Office (GSO) said, predicting that the CPI in May will rise by between 0.3% and 0.4%.

 

From March 1, Vietnam raised electricity prices by 6.8% and coal prices for the power industry by between 28.23% and 46.6%.

 

Analysts forecast that Vietnam is unlikely to curb inflation at 7% this year. (Young People)