Vietnam’s GDP Growth Forecast at 4.5pct in Q2/2012: government

Vietnam’s economy is forecast to grow 4.5 percent in the second quarter of the year, the government said in its additional report on eco-society situation in 2011 and plans in 2012 which will be presented at the Congress ‘s third meeting session on May 21.

Vietnam will success in curbing inflation under 10 percent and even lower in 2012. However, it is very hard for the country to meet its target of 6-6.5 percent gross domestic products (GDP) growth if there is no suitable policy adjustment. Pressure for GDP growth in the last 6 months of this year is very high and it is likely to close to 6 percent, the government said in the report, citing the country’s GDP growth at 4 percent in Q1/2012 and is expected to gain 4.5 percent in Q2/2012.

If Vietnam does not have appropriate and active solutions to boost production, business development, the country will meet difficulties in getting the country’s targeted economic growth and ensuring social security as well, the report said.

The report will be examined by the Economic Committee of Congress this morning, May 14th.

 

Category: Economy