Vietnam’s Economy Grows 5.7% In First 9 Months

Vietnam’s gross domestic product grew at a slower pace in the first nine months of 2011 compared with the same period a year ago amid high inflation and a trade deficit.
The government’s General Statistics Office said Monday the country’s economy has maintained “reasonable” growth at 5.7 percent. Vietnam’s economic growth in the first nine months of 2010 was 6.5 percent.
Inflation in the first nine months of 2011 surged to 18 percent from 8.6 percent a year earlier. The trade deficit stood at $6.9 billion, down from $8.5 billion a year ago.
The government has introduced a series of measures, including tighter monetary polices and cutting public spending, to try to tame one of Asia’s highest inflation rates.”-Source: StoxPlus.com”

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Posted by quynhdn on Sep 26 2011. Filed under Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry