Vietnam’s economic growth hits 5-year high of 6.68 percent

By Thuy Vi, Thanh Nien News

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Government leaders are confident that the economy is going back on track. Photo credit: VnEconomy Government leaders are confident that the economy is going back on track. Photo credit: VnEconomy

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Vietnam's economy expanded 6.68 percent, beating the government's target and climbing to the highest level in five years, according to new data released by the General Statistics Office.
“The economy has clearly recovered,” the office said in a report Saturday.
Government leaders set a GDP growth target of 6.2 percent at the beginning of the year, after achieving a 5.98 percent expansion in 2014.
They later adjusted the expectation to 6.5 percent, which was also the World Bank's forecast.
Vietnam’s GDP per capita this year reached US$2,109, up from $2,052 last year, the office said.
The annual budget deficit remained high as revenues were VND885 trillion (nearly $39.3 billion) while spending topped VND1,064 trillion ($47.2 billion).
The statistics office also reported that a total of $14.5 billion of foreign direct investment was disbursed over the year, up 17.4 percent from 2014.

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