Nine month GDP growth forecast at 6.4 percent

The National Financial Supervisory Commission on Tuesday issued a macro economy report forecasting that Vietnam Gross Domestic Product (GDP) growth would continue recovery momentum to reach 6.4 percent in the first nine months this year.

The growth rate may reach 6.5 percent this year, according to the report.

The committee said that the GDP recovery had made significant contribution to production field, especially manufacturing and processing industry.

In the first seven months this year, industrial production index was estimated to increase 9.9 percent over the same period last year when it hit only 6.2 percent.

Export turnover grew 16.4 percent to US$92.3 billion. Trade deficit was lower than that in the first six months with US$3.4 billion, accounting for 3.6 percent of the export turnover.

Inflation was under control and stable, the committee said. Consumer price index saw a year on year increase of 8.6 percent in the seven months and core inflation rate hit 2.42 percent, which is expected to reach 3 percent this year.

Both inflation and core inflation rates were unchanged for five recent months.

By Minh Giang – Translated by Hai Mien

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