The high economic growth rate and the prosperity of a number of business fields in H1 demonstrates the judiciousness of the decisions to change the country's Covid-19 prevention and control strategy.

As a reporter in charge of macroeconomic news, I always seek to read statistics because figures are not biased and allow me to have an overall view of things. But, honestly speaking, not all statistics give me a sense of confidence.

Although the price of petrol has fallen since July 11, several business associations and agencies proposed reductions in taxes and fees to support businesses because of unpredictability and fluctuations in gasoline prices.

Last weekend, I visited the family of an acquaintance and fell into a funny situation. Everything began from a discussion about the consumer price index (CPI).

Many business fields have been witnessing a rapid recovery after the Covid-19 outbreak. However, difficulties are ahead as they lack capital and petrol prices are escalating.

Vietnam’s consumer price index (CPI) in the January – June period rose by 2.44% year-on-year while its core inflation edged up 1.25%, the General Statistics Office (GSO) reported at a press conference on June 29.

The news that the Ministry of Finance (MOF) has proposed the further cutting of environmental protection tax and the removal of the petrol price stabilization fund has brought a fresh breath of air to people and the economy.

The petrol price hike has led to price escalations of major goods and services, forcing low-income earners to tighten their belts.

As the State’s resources are limited, the increase in the national petroleum reserves will be implemented under a roadmap from now to 2025.

There will be no increases in prices of medical examination and treatment.

The building of an independent and self-reliant economy associated with extensive international integration needs to start from businesses, especially private ones, in order to increase resilience and improve internal forces.

To avoid exchange rate and capital outflow risks, interest rates in Vietnam are expected to rise, while the bad debt ratio is likely to increase sharply.

If inflation cannot be controlled and Vietnam has to use a “high-dose drug”, such as an interest rate increase, serious consequences may occur.

Vietnam’s consumer price index (CPI) in the first five months of the year edged up 2.25 percent year-on-year while core inflation rose by 1.1 percent, according to the General Statistics Office (GSO).

It will be a challenge to keep Consumer Price Index (CPI) growth under 4 percent this year, according to an economist.

The petrol price hike, which has led to an increase in nearly all goods and services, from food to medicine to fertilizer, has caused consumers constant anxiety.

If petrol and DO prices continue to stay high, transport firms may have to reduce services and routes, or stop operation temporarily.

Vietnam’s consumer price index (CPI) in January edged up by 0.19% month-on-month, fueled by high consumer demand for the upcoming Lunar New Year or Tet, according to the General Statistics Office.

The severity and persistence of inflation worldwide have surprised most central banks and organizations that offer economic forecasts. 

Despite facing various difficulties, it remains entirely possible to be optimistic about the outlook for foreign investment attraction moving into 2022, with many commitments regarding investment in major projects being made by foreign investors.