Vietnam GDP Grows 5.2% in 2009: Prime Minister
Vietnam’s gross domestic product expanded 5.2% this year despite many difficulties versus 6.23% growth last year, supported by effective monetary policy, Prime Minister Nguyen Tan Dung said on December 23.
The PM made the statement at a banking conference in Hanoi where he ordered the State Bank of Vietnam to take flexible measures to keep inflation below 7% next year and push up the economic growth higher than the 2009 rate to 6.5%.
Dung also requested the central bank to work with the National Assembly on the draft Law on Credit Institutions and Law on the State Bank of Vietnam to forge a legal framework suited to the real economic situation.
The SBV must take higher responsibilities for foreign exchange management and review measures to protect the economy from dollarization, he said.
The International Monetary Fund earlier forecast Vietnam’s GDP growth at 4.6% and the Asian Development Bank predicted it at 5%.
In November, the government of Vietnam announced a draft socioeconomic development plan to target a GDP growth of between 7% and 8% in the 2011-2015 period. (Vietnam Economic Times)
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