Vietnam’s economy began 2011 with its slowest quarterly expansion in more than a year — just 5.4% after a robust 7.3% rise in gross domestic product in 2010. That’s because the government is taking a break from ambitious growth targets to concentrate on stabilizing the currency, trade deficit and cost of living.
More economic tightening is expected over the next few months as authorities try to get inflation into single digits from its current 14%, but the country still aims for GDP growth approaching 7% this year.
So far this year economic growth has been uneven — with agriculture up just 2% in the first quarter, with industry and services sectors expanding 5% and 6%, respectively.
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