Vietnam to Achieve 7.6 per cent GDP Growth in 2005: ADB

Vietnam's economy will expand by 7.6 per cent in 2005 thanks to increasing purchasing power (expected at 8.1 per cent) and robust export growth (expected at 12 per cent), said Ramesh Adhikari, Head of the Country Programmes and Economics of Asian Development Bank (ADB)'s Resident Mission.

The economist also forecast Vietnam's state budget deficit would account for 4.1 per cent of the country’s gross domestic product (GDP) in 2005.

Inflation will decrease from this year's 9.5 per cent down to 6 per cent in 2005, he added.

Mr. Adhikari said that total development investment should account for 35 per cent of GDP (compared with 36.3 per cent rate in 2004). The higher rate will cause higher inflation.