GDP growth fore to reach 5.5 percent in 2009

The agro-forestry-fisheries sector is expected to enjoy a GDP growth of 2-2.8% while industry and construction may see a rise of 3.5-5%, said the report.

The MPI also forecast that Vietnam’s consumer price index (CPI) will increase by 6% this year and that the country will only be able to generate jobs for around 1.5 million workers, failing to fulfill its set target of 1.7 million. To reach these targets, the ministry put forward several measures to be carried out in the near future with the focus on implementing the government’s five groups of solutions.

Participants at the conference suggested a maximum overspending of 8% for this year, saying that a rate of between 6.5-7% was appropriate.

The President of the Small- and Medium-sized Enterprises (SMEs) Association, Cao Si Kiem, said that a GDP growth of 5-5.5% for the whole year is appropriate and more feasible. He complained however, that the implementation of government policies and solutions remained two slow.

The allocation of 20 trillion VND from government bonds should be used properly so that the State’s money will go to the people it has targeted, which will help to create jobs and ensure social welfare, he added. The session will continue on May 8 with a discussion on a draft report on amendments to the law on capital construction investment.