Vietnam President: Economy Will Grow Above 6% Despite Market Slowdown

Vietnam's economy will grow more 6% this year despite recent turbulence in the country's stock market, said President Nguyen Minh Triet on Wednesday.

Next year, he expects the gross domestic product to eclipse 7%.

The President was speaking at an International Economic Alliance event in New York.

He addressed the country's high interest rates, among the highest in the world, and said the government was looking for a solution to ensure economic growth.

Most banks charge small and medium firms with the rates above 14% a year.

Regarding the upcoming National Party Congress, he said if he retires from his post, policies would remain consistent. He said it is better to give the torch to the younger generation.

the wall street journal

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