Vietnam sets goal of 6.7% economic growth for next year
Vietnam’s National Assembly, the legislative body, on November 7 passed a resolution targeting economic growth of 6.7% for 2017, higher than the estimate for this year.
The target for this year was originally set at 6.7% too, but it has been revised down to a range of 6.3%-6.5%. A few setbacks have caused the economy to cool down somewhat, including drought and saltwater intrusion in the southern region in the early months, and the mass fish death disaster along the central coast.
Agriculture and mining activities in particular were badly hit.
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| A footwear factory in Hanoi. The National Assembly has passed a resolution targeting economic growth of 6.7 percent for 2017, higher than the estimate for this year.Photo by Reuters |
Last year, growth accelerated to 6.68%, compared to 5.98% in 2014. Unlike most of the world, Vietnam's economy has been growing at a fast pace and is expected to keep expanding by 6.5%-7% through 2020.
Gross domestic product last year was valued at US$193.4 billion, with GDP per capita estimated at US$2,109, the government said in March.
Legislators on November 7 also eyed a 6%-7% increase in exports for 2017, similar to the same rate for this year. Vietnam’s exports jumped to US$162 billion in 2015, from US$72.24 billion in 2010.
Inflation should be contained at 4% next year, legislators said. Annual inflation reached 4% in October, moving closer to the 5% target for the whole year.
