VN growth rate to fall to 5.7%
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Viet Nam's economic growth this year is expected to reach around 5.7 per cent before increasing to 6.3 per cent next year, while year-end inflation is forecast to decline to below 10 per cent.
The World Bank released its latest East Asia and Pacific Economic Update report in Hanoi last week, saying that while the economy has started to stabilise, the significant tightening of macroeconomic policies along with an uncertain global economic environment were beginning to take a toll on growth.
World Bank lead economist Deepak Mishra said real GDP growth decelerated from 6.8 per cent in 2010 to 5.9 per cent in 2011 and further to 4 per cent in the first quarter this year as domestic demand slowed, affecting construction, services and utilities.
Mishra added that tightening domestic policies have dampened investment, particularly in infrastructure, real estate and private consumption.
