Vietnam is likely to experience difficulties in controlling inflation this year due to global uncertainties and unexpected price rises of many items in the local market in the wake of the ongoing coronavirus epidemic.

Keeping the inflation rate at 4 percent in 2020 will be a challenging task, not only because of the pork price escalation, but also money excess.

If the nCoV epidemic lasts a long time, the GDP is expected to decrease.

The consumer price index (CPI) has increased by 22 percent compared with July 2013, when the 2012 amended PIT Law took effect. However, the taxation threshold remains unchanged.

Vietnam’s consumer price index (CPI) in January hit a record high, up 1.23 percent over the previous month and 6.43 percent year on year, according to the General Statistics Office (GSO).

Vietnam gained a high GDP growth rate of 7.02 percent in 2019. However, many problems still exist.

Many problems arose in the last months of 2019, which sparked the worry that 2020 would be a tough year for Vietnam’s economy.

The average inflation rate in 2019 was low at 2.79 percent. However, the inflation rate in December 2019 reached 5.23 percent compared with December 2018, and this is worrying.

The fluctuating price of pork last year had significant impacts on the market, as the price plummeted in the first half of the year then soared in...

The prices of multiple products and services are forecast to rise this year, putting pressure on inflation.

The industrial production index went down in November with the decline of both mining and manufacturing industries. This is a big surprise in the context of stable global and domestic demand.

Vietnam's GDP growth rate is expected to surpass the target and reach 6.8-7 percent.

Though they are optimistic about the economic performance in the first nine months of the year, economists still warn that in the long term,m Vietnam’s economy may be influenced by a global recession.

The Ministry of Finance (MOF) says that personal income tax (PIT) rates have become out of date after six years of application and need amendment.

The prices of essential goods and services have been increasing rapidly, while the personal income tax (PIT) has remained unchanged over the six years.

Vietnam is following an export-based growth model, striving to become a production base for multinational groups.

The Ministry of Health plans to halt a planned increase of medical service fees if the consumer price index (CPI) increases in 2019, the Vietnam News Agency has reported.

An upcoming rise in the price of a series of services has prompted many National Assembly members to require the government to come up with solutions to control the CPI which may increase strongly this year.

Prime Minister Nguyen Xuan Phuc underscored the determination to accomplish all goals set for 2019, striving for a GDP growth of 6.8 percent and reining in inflation under 4 percent at the Government’s monthly meeting held in Hanoi on May 31.

The price hike of many essential goods recently has put pressure on inflation, but economists believe the inflation rate will be at below 4 percent as targeted.