Vietnam’s government think-tank head, Truong Dinh Tuyen, does not expect the nation’s gross domestic product (GDP) to grow 5.5% this year. As reported by Vietnam News Summary, Tuyen stated that the country’s inflation was tamed in the recent past, due to low local demand, instead of monetary policies.
The nation witnessed low investments in private sector, due to the low demand and increasing non-performing loans, resulting in a negative impact on industrial activities. The country’s agriculture sector, which is important for stabilizing the society and contributing to exports and GDP growth, is facing challenges, as animal food prices grew while prices of food stuffs declined and lack of capital to reinvest after mass diseases.
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