Vietnam Economy Improving

Vietnam reports a 0.3 percentage point improvement in economic growth to 5.7% for the second quarter — as its fight against inflation, lack of confidence in its currency, and trade deficit remain big concerns.  The 5.6% increase for the first half of 2011 compares to 6.8% for 2010. 

The government now hopes for 6% growth for all of this year and and 15% inflation — a big challenge considering the 21% rise in cost of living in June and predictions inflation has yet to peak. 

The government is well aware of the economic challenges and is tightening lending and contemplating further anti-inflationary efforts.

More on Vietnam’s 2011 economic expansion

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