Vietnam sets 5.8 pct goal for 2014 GDP growth

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The National Assembly, Vietnam's parliament, has set a target of 5.8 percent for next year's GDP growth.


Lawmakers on Monday approved the figure as part of its resolution on social and economic development for 2014.


The resolution passed overwhelmingly, with 421/430 votes of approval.


It tasks the government with continuing to stabilize the macro economy, controlling inflation and improving the country's overall economic effectiveness and competitiveness next year.


It lists measures such as maintaining flexible monetary policies and contractionary fiscal policies, adjusting interest rates to control inflation, and effectively managing the foreign exchange market.


Prime Minister Nguyen Tan Dung told the National Assembly on October 21 that the country's GDP is estimated to expand by 5.4 percent this year.

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