Vietnam Govt to Lower Economic Growth Goal This Year
The Government of Vietnam plans to seek approval from the National Assembly to lower economic growth target this year after seeing difficulties in the first quarter, said Deputy Prime Minister Nguyen Sinh Hung at the press conference March 27.
The government finds hard for the country to have economic growth targets of 8.5 per cent-9 per cent in 2008 as set earlier, and it will revise the growth target to 7.5 per cent this year, Hung said.
The 7.5 per cent growth is still a high target, but it is acceptable, he said.
Hung admitted that Vietnam is facing difficulties in some key sectors such as stock market, finance, monetary, trade deficit and inflation.
The consumer price index continued to hover more than 9.19 per cent in the first three months, surpassing the GDP growth of 7.4 per cent on year in the period.
The government will give ultimate priority on taming inflation and stabilizing macro economy to maintain high economic growth, the government leader said.
Vietnam remains attractive foreign investors and has positive outlook ahead global economic slowdown, Hung said, pointing out that the country lured foreign investment inflows of more than US$5 billion in the first quarter. (Vietnam Economic Times)
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