HANOI, Apr. 6, 2011 (Xinhua News Agency) -- The Asian Development Bank (ADB) has revised Vietnam's gross domestic product (GDP) forecast in 2011 to 6.1 percent, down from 7 percent estimated in September 2010.
The statement was made at a press briefing held here Wednesday. The Asian Development Outlook (ADO) was also introduced that GDP of Vietnam may expect to reach 6.7 percent in 2012 as a more stable economic environment stimulates consumption and investment.
Meanwhile, inflation is anticipated to remain high through 2011 averaging 13.3 percent, before reducing to average 6.8 percent in 2012.
The Vietnamese government has commented for the timely introduction of comprehensive policy measures to curb inflation and stabilize the macro-economy, addressed by Ayumi Konishi, ADB Country Director for Vietnam.
Those measures may make the country's growth rate come down in a short time, but Vietnam should continue to implement them to give more time for inflation to reduce gradually, Konishi said.
The report also recognized Vietnam's GDP growth in 2010 at 6.8 percent in the context of global economic recovery and monetary restructuring. The consumer price index (CPI) was at 9.7 percent; industrial sector increased 7.7 percent, services with 7.5 percent; and trade deficit decreased from 8.3 billion U.S. dollars in 2009 to 7.1 billion U.S. dollars in 2010.