Vietnam GDP grows 5.89 per cent in 2011

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Báo Đầu Tư English - 38 month(s) ago 36 readings 2 duplicate news

Vietnam GDP grows 5.89 per cent in 2011

The Vietnamese economy is estimated to grow at 5.89 per cent in 2011, according to the General Statistics Office (GSO) on December 29.

In its 2011 Socio-economic Statistics, the GSO reported that disbursed social investment is estimated to total VND877.9 trillion, accounting for 34.6 per cent of GDP. The figure shows an increase of 5.7 per cent from 2010.

Total State budget collection is estimated to reach VND674.5 trillion while State budget spending is to stand at VND796 trillion.

The GSO estimated that State budget overspending is equivalent to 4.9 per cent of GDP, which is lower than the set rate of 5.3 per cent.

Total payment balance is estimated to grow 10 per cent (the yearly rate was set at 15-16 per cent) and total credit balance is estimated to rise 12 per cent (the set rate for the year was below 20 per cent).

As consumer spending in December was expanded by 0.53 per cent over November, the consumer price index for the whole year is estimated to average 18.58 per cent.

According to the GSO, population is estimated to rise 1.04 per cent from last year, to number 87.84 million, with women accounting for 50.5 per cent, representing an increase of 0.99 per cent. The number of urban dwellers is 26.88 million, making up 30.6 per cent of population.

Unemployment rate among people of working age is 2.27 per cent. The respective figures for urban and rural areas are 3.6 per cent and 1.71 per cent.

Despites economic difficulties, the implementation of the Party’s policies and the Government’s social welfare programmes has helped improve people’s living conditions significantly.

In 2011, the Government allocated VND2.74 trillion in development capital for 62 poor districts across the country.

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