Vietnam's outlook downgraded by expert
Play
Vientnam's economic growth rate in 2012 is forecast at 5.2 per cent. It is the second adjustment from the previous projections of 5.5 per cent and 6.5 per cent, and is due to the slowing down of the country's socio-economic performance in the first 10 mon
Nguyen Thi Tue Anh, head of the Competition Capacity and Business Environment Department of the Central Institute of Economy Management, made the judgment at a forum held in Hanoi last week.
Agricultural production is moving in a downward trend while the industrial index has increased by only 4.8 per cent, half the figure of previous years, she said.
In the past 10 months, the country’s import and export turnover stood at US$93.7 billion (Bt2.87 trillion) and $93.8 billion, respectively, a year-on-year increase of 6.7 per cent and 18.9 per cent, she added.
Nguyen Dinh Anh from the Price Market Scientific Research Institute said it is hard to make estimates for this year’s state budget revenue because of impacts the slump in the economy has had. This might prompt an increase in budget deficit, resulting in an unstable macro-economy and budget spending restrictions, he added.
