Vietnam’s GDP rises 5.05%

HCMC – Vietnam’s gross domestic product (GDP) has expanded by 5.05% this year, below the 6.5% target due to ongoing local and global economic challenges, the General Statistics Office (GSO) reported. Data released by the GSO today, December 29, showed that in the fourth quarter alone, Vietnam’s GDP is expected to rise by 6.72% year-on-year. Vietnam’s GDP is projected to reach US$430 billion by the end of the year, with the GDP per capita increasing to US$4,284, a US$160 rise compared to the previous year. Inflation has been kept in check, with the average Consumer Price Index (CPI) for the fourth quarter growing by 3.54% year-on-year. The Government has implemented policies in recent times to fuel growth, stabilize the macro-economy, control inflation, and maintain economic balances.