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Vietnam Business » Vietnam Financial News » Vietnam GDP expected to increase 6.5% in 2010

Vietnam GDP expected to increase 6.5% in 2010

GDP of Vietnam (GDP) is expected to grow by 6.5% above the target for 2010, reported the newspaper online Vneconomy on 6 August, citing the Ministry of Planning and Investment (MPI) forecast on a regular government meeting presented. MPI estimates, said that export sales can increases17%, 6% higher than planned. The trade deficit of less than 20% of export turnover.

Closer trade helps to analyze the gap between supply and demand for foreign currencies and increased foreign exchange reserves of the countrys balance. Consumer Price Index (CPI) is expected to increase by 8%. This objective is part of the current socio-economic situation and not cause instability in the macro economy. MPI report "based on actual economic conditions relatively optimistic for the first seven months of the best prospects for the global economy and the Vietnamese economy. GDP growth rate of 6.16% in the first half of this year is the springboard to reflect on the expected target for GDP growth in the third quarter. In the first seven months of industrial sector is likely to have increased by 13.5%; Seafood rose by 4.7%, export revenues increased by 17.5%, with imports increasing by 25.5% over the corresponding period last year. The service sector has been a strong upswing. Retail and Consumer Services revenue was approximately 26.4% in January-July increased over the same period last year, the number of foreign visitors by 34.9%, both the volume of goods, services and consumers by 10% -15% increased over the same period. There are 50 000 new companies got business licenses with total registered capitals of VND291 trillion to 0.6% in the number of enterprises and 16% in the number of the registered capital of a year ago. This suggests that entrepreneurs to believe in the potential growth of companies in the coming year. In January-July increased credit growth of about 12.97% compared to December 2009 The demand for investment accelerated disbursement of funds from the state budget is equal to 62% on an annual basis (the last year of 50%); ODA practices 67%; FDA approval rose by 1.6% over the same period. Meanwhile, the July CPI up 0.06% from last month, the lowest level in more than one year, from January to July rose 8.67% in the CPI over the same period, according to the General Statistics Office. Internationally, the global economy, a positive sign that speed recovery faster than expected and are concerned about a "double crisis" was kept away.

Vietnam Business And Financial News Network. Source [stox.vn]

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