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Economic growth slows down in first quarter |
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Thursday, 26 March 2009 |
Vietnam’s gross domestic product (GDP) growth rate in the first quarter
this year reached 3.1 percent, only half of the level recorded in last
year’s corresponding period, the General Statistics Office (GSO)
reported at a conference on March production held in Hanoi on March 25.
The office said the country’s economic growth has been slowing down with many indexes sharply dropping.
The conference held that Vietnam would suffer stronger impacts from the world economy this year.
Delegates
agreed to take into account difficulties caused by the global economic
slowdown, narrowing markets, disasters and epidemics, as well as
advantages from stimulus solutions and financial polices in order to
give out concrete forecast of the economic situation and make
appropriate measures for development.
According to the Ministry
of Industry and Trade, Vietnam expects to earn an export turnover of
between 58-68 billion USD this year, a decrease of 7 percent over 2008.
The
ministry forecast that exports in the second quarter of this year will
keep an equal pace with the first quarter and inch up in the third and
fourth quarters.
Meanwhile, foreign investment still a spotlight
in the economy, with 6 billion USD poured in the first quarter this
year. Of the figure, 3.8 billion USD were added to existing projects,
an increase of 34 percent over the same period last year./.
Source: VNA
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