VietFinanceNews.com – Vietnam foreign exchange reserve is estimated to be equal to 8 weeks of import, said Le Xuan Nghia, vice chairman of the National Financial Supervisory Committee at the meeting between the NFSC and top US enterprises on September 6.
Nghia said the figure is estimated to rise to 10 weeks of import in the following year, the local online newspaper Dau Tu Chung Khoan reported.
He also gave out other key data including estimated GDP growth at 5.8% in 2011 and 6.5% in 2012; state budget deficit estimated at 5.1% GDP in 2011 and 4.9% in 2012.
Investment to GDP ratio is estimated at 37% in 2011 and 38% in 2012, Nghia added.
Nghia thinks Vietnam’s economic fundamental challenges are: increasing bad debts, possibility of liquidity shock in small banks, volatile exchange rate and slow increase of foreign exchange reserve.