VN growth could surpass target this year

Wednesday, Jul 15, 2015 08:00

the nation's economic growth this year would reach 6.48 per cent. — Photo baodautu

HA NOI (Biz Hub) — The Department of Analysis and Forecast under the National Centre for Socio – Economic Information and Forecast projected the nation's economic growth this year would reach 6.48 per cent.

This projection was higher than the Government's target set at 6.2 per cent this year.

The department said that the domestic economy was showing signs of recovery, along with the recovery of the world economy, adding that growth rates were forecast to rise higher than the previous year.

Growth would be fuelled by low commodity prices, foreign direct investment and demands from abroad, the department said.

The construction and industry sector, especially processing and manufacturing industries, would lead the nation's overall growth, while the service sector was forecast to post moderate growth.

However, the department noted that agricultural, forestry and fishery sectors were anticipated to face many difficulties as growth rates slow.

Meanwhile, the consumer price index was projected to increase 1.7 per cent this year, as crude oil prices were expected to recover in the world market.

The centre forecast that Viet Nam would run a trade deficit of some US$8.77 billion this year, with an export turnover expected at $165 billion and import turnover at $174 billion.

Further, credit growth in 2015 was forecast between 13 to 15 per cent, 1 percentage point higher than last year. However, difficulties would continue for businesses. — VNS

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