Vietnam's 2010 GDP growth may hit 6.7 pct: report

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Vietnam's economy may expand by 6.7 percent this year, up from a target of 6.5 percent, a state-run newspaper said on Thursday, quoting a government official.

The country's gross domestic product (GDP) could rise between 6.9 percent and 7.2 percent in the second half of the year, the online newspaper cited Cao Viet Sinh, deputy minister of planning and investment, as saying.

"If this level is achieved, this year's GDP growth may exceed 6.5 percent, maybe about 6.7 percent," Sinh was cited as saying.

Vietnam's economy grew an estimated 6.4 percent in the second quarter from a year earlier, accelerating from growth of 5.83 percent in the first three months, the government statistics office said.

GDP rose 6.16 percent in the first half of 2010 from the same period last year, it said.

Economists said growth in the first half suggested Vietnam might hit its 6.5 percent target, but higher credit growth was needed to maintain the pace in the second half.

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