Minister Forecasts Vietnam Q1 GDP Likely to Grow 3.1 per cent Vs 7.4 per cent in Q1/08
Vietnam's GDP growth is forecast to slow to 3.1 per cent in the first quarter this year, Minister of Planning and Investment Vo Hong Phuc told lawmakers recently.
In the first quarter last year, Vietnam's economy grew 7.4 per cent.
Minister Phuc noted this figure is impressive as Vietnam is listed among 12 countries with real GDP growth rates out of 170 economies over the world.
Inflation is estimated to soar 1.47 per cent from end-December, Phuc said.
The US$1 billion interest rate subsidy program is demonstrating effectiveness and local banks had loaned VND152 trillion of soft loans to the economy as of March 20. (Local sources)
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