Vietnam’s economy to grow 5.04%-5.35% in 2013

By bne IntelliNews June 13, 2013

Vietnam’s economy is projected grow between 5.04%-5.35% this year, as compared to an expansion of 5.03% posted last year. According to the initial findings of the 2013 Annual Economic Report prepared by the Vietnam Centre for Economic and Policy Research, the nation’s inflation is expected to increase between 4.95%-6.64% during the period.

The agriculture sector, which is the backbone of the economy, grew 2.24% y/y during the first quarter of the year, registering the lowest since 2010. The country requires a stimulus package of VND 100-200trn, so as to rescue its businesses. There are about 23,200 businesses to have suspended operations, dissolved or gone bankrupt so far this year.

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