Hanoi sees 2001 growth quality low; CPI up 1.0 pct
HANOI - The Vietnamese government has forecast 7.0 percent
gross domestic product growth and lower than expected inflation of one
percent for 2001, but said on Saturday the quality of growth remained poor.
In a draft report published on Saturday and to be delivered to a National
Assembly session next week, the government said the key factor behind the
consumer price index rise being well below a target of no more than five
percent was a sharp decline in world market prices.
The report added: ``The quality of the growth and the efficiency and the competitiveness of the economy is
still low.''
It said the financial sector remained under-developed, unemployment and production costs high, and
governmental policy disjointed.
The National Assembly had initially targeted 7.5 percent GDP (news - web sites) growth for this year, a
figure revised down by the government to 7.1 percent in September.
A National Assembly report released on Friday also put GDP this year at around 7.0 percent, compared with
an estimate of 4.9 percent by the World Bank, 4.7 percent by the International Monetary
Fund and 6.4 percent by the Asian Development Bank.
The government has targeted GDP growth in 2002 of 7.0-7.3 percent.
The month-long National Assembly session starting on Tuesday is due to ratify a historic trade agreement
with the United States which should provide a significant boost for Vietnam's exports.
The pact will, for the first time, grant Vietnamese exporters access to the U.S. market at the same low tariffs
enjoyed by most other countries.
Reuters - November 17, 2001.
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