Core inflation remained elevated, at 4.5% in May, compared to 4.6% in April, the bank’s Vietnam Macro Monitoring report said. Retail sales continued to expand at 11.5% annually in May, comparable to growth rates in the two previous months. The report also said that, the country’s FDI disbursement registered 1.8 billion USD in May, a slight improvement from April, and comparable to a year earlier. While investment disbursement remains robust, credit growth continues to slow, reflecting weak credit demand, it said. Continued weak external demand and uncertainties are adversely affecting the Vietnamese economy, translating into contraction in exports and imports, and a slowdown in industrial production, the report noted./.

Source: Viet Nam News June 20, 2023 18:42 UTC