Economy to post first-quarter growth of nearly 6 pct

It is estimated that Vietnam’s economy will grow by 5.7-5.9 percent in the first quarter of this year—or nearly double the rate for the same quarter last year--according to the General Statistics Office (GSO).

The GSO based the projection on the national economy’s performance in the first two months, taking into account possible ups and downs it may face in the future.

According to the office, retail sales and service revenues will surge 24 percent over the first quarter of 2009.

Also, industrial production value is projected to grow by 13.5-13.8 percent, and agriculture, forestry and fisheries production value by 5.6-5.8 percent.

The GSO has estimated an import value of US$16.8 billion with the majority of imports being input materials due to the strong recovery of domestic production and exports of US$14.2 billion in the reviewed period.

As the first quarter has nearly a month to go, the GSO proposed that sectors and branches take prompt measures and appropriate and flexible financial and monetary policies to manage the market and prices of essential commodities which already spiked after the traditional Lunar New Year festival.

Source: VNA

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