notes to the consolidated financial statements - Sacombank

oBJECtIVES AnD PLAnS FoR 2012
OVERALL MARKET FORECASTS
World economy
The world economy is recovering thanks to the growth
of emerging and developing economies, especially those
in the Asian region. However, slower growth along with
inflation, unemployment, budget deficits and sovereign
debt crises in some of the world’s largest economies have
created challenges affecting the recovery of the global
economy and the stability of the financial and monetary
sector of the world and Vietnam. The world economy
is forecast to grow by 3.6% and the world’s developing
economies by 6.2% in 2012 (Source: World Bank).
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ANNUAL REPORT 2011
Domestic economy
The Government’s tasks for the period of 2011-2015 are to
reduce inflation, stabilise the macro-economy and maintain
a reasonable growth rate, as well as reform the growth
model and restructure the economy. Specific objectives
include reducing inflation to under 10%, achieving GDP
growth by around 6-6.5%; a total export value increase
by around 13%, a trade deficit of around 11-12% of total
export value; and total social investment and development
capital reaching around 33.5% of GDP.