Vietnam eyes growth of 6% to 6.5% next year

Vietnam expects next year’s gross domestic product to grow from 6% to 6.5%, and estimates its economy to expand 6% this year, Prime Minister Nguyen Tan Dung said at a National Assembly sitting Thursday.

Mr. Dung was delivering the main socio-economic report during the opening of the second annual session of the lawmaking body in Hanoi.

Vietnamese Prime Minister Nguyen Tan Dung was delivers the main socio-economic report during the opening of the second annual session of the National Assembly in Hanoi Oct. 20, 1011 (Photo: Minh Dien)

He said this year’s economic growth was estimated at 5.8% to 6%, lower than the National Assembly-approved target of 7%-7.5%.

The consumer price index is forecast to rise 18% this year, the government leader said.

His report proposed for National Assembly approval an average GDP annual growth rate of 6.5%-7% for the 2011-2015 period. The PM said next year’s budget deficit would be 4.8% of GDP, and it might go down gradually to 4.5% in 2015.

By 2015, the country’s public debts are expected to be from 60% to 65% of GDP, he said.

Next year’s top priorities are to curb inflation, stabilize macro-economy, maintain growth, restructure the economy, improve the country’s competitive edge, assure social welfares, improve the people’s life, keep political stability and maintain social order, intensify national defense, and strengthen international relations, he said.

The National Assembly meeting started Thursday and is scheduled to end Nov. 26. On the agenda are discussions of economic targets for next year and the 2011-15 period.

By Anh Phuong, translated by Tuong Thuy

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