12:28:34 AM | 6/4/2010
Authorities in the Vietnamese capital of Hanoi Wednesday announced a economic growth of 8.7% in the first quarter this year, driven by construction and industrial production, the Thoi Bao Kinh Te newspaper reported Thursday.
Construction and industrial production sector saw its value grow 9.2% in the period while services posted on-year growth of 6.9%, Mayor of the city Nguyen The Thao was quoted by the newspaper as saying.
Thao said the city collected VND25.63 trillion for the state budget during the quarter while the city spent VND5.96 trillion worth of the state fund.
In March, the city’s consumer price index rose 0.75% from February, driven by higher costs of foods and restaurant services. The index increased 3.78% for the first quarter and up 9.58% from a year earlier.
Hanoi expects its economy to grow between 9.5% and 10% per annum in the 2011-2015 period with services making up 56% by 2015. (Vietnam Economic Times)
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