Economy grows despite difficulties

Though the economy was mired in difficulties in the last seven months, it continued to grow, the Ministry of Planning and Investment reported at a regular Government meeting on August 4.

Industrial production grew by 5.1 percent year on year in the period, including 7.6 percent in July.

The construction sector too posted growth, thanks to the government’s stimulus policy and a recovery in the real estate market.

The retail and services sector expanded by 18.3 percent over last year’s same period.

But exports did not do well, falling 13.4 percent to US$32.35 billion.

The ministry warned that the currency and credit indexes rose sharply, and urged the government to take measures to control them to ward off inflation.

 Lam Nguyen –  Hoang Yen

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