Vietnam's economy is showing signs of recovery, with the national economic growth rate in the first nine months this year estimated to increase by 4.59 percent compared with the same period last year, according to a report of the website of Vietnam's Ministry of Planning and Investment (MPI)on Tuesday.
The figure of 4.59 percent economic growth was unveiled at a monthly regular meeting of the ministry held here on Monday. The meeting was to review socio-economic development in the first nine months of this year and map out concrete measures to ensure economic growth and social stability.
According to Ha Van Hien, chairman of the National Assembly Committee for Economic Affairs, Vietnam has recorded encouraging results in socio-economic performance in the first nine months of this year despite the impacts of the global economic crisis. The results are owed to the country's stimulus packages of eight billion U.S. dollars to boost the national economy since the outbreak of the global economic crisis.
In the first nine months, Vietnam's industrial production and retail sales are expected to see year-on-year increases of 6.5 percent and 18.6 percent to 28.35 billion U.S. dollars and 47.37 billion U.S. dollars respectively, said the MPI.
At the meeting, Vietnamese Deputy Minister of Planning and Investment Cao Viet Sinh urged ministries, relevant agencies and local authorities nationwide to keep implementing drastic measures to closely monitor price hikes and trade deficit while preventing exports from further decrease in the last three months.
The MPI forecast that Vietnam's economic growth rate this year would be five to 5.2 percent.
Source:Xinhua
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