Vietnam GDP to Grow 5.83% Q1, Ministry Says
Vietnam’s economy is forecast to expand 5.83% in the first quarter, driven by construction and industrial production and services, said the Ministry of Planning and Investment.
The MPI’s forecast is much higher than 3.1% in the same period last year, but lower than 6.9% in the last quarter and 6.04% in the third.
Major drivers of the country’s GDP are services, construction and industrial production, which grew 6.64% and 5.65% in the first quarter compared 5.4% and 1.5%, respectively last year
Earlier the government-run General Statistics Office forecast Vietnam’s GDP growth in the quarter at 5.7% to 5.9% whilst Governor Nguyen Van Giau of the State Bank of Vietnam predicted at 6%.
This year Vietnam targets GDP growth of 6.5% and curb inflation below 7%; however, analysts said it is hard to achieve the targets. (VnEconomy)
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