Vietnam targeting Q3 GDP growth of 6.5%-7.0%, inflation below 4.5%, PM says

HANOI (Reuters) – Vietnam is targeting gross domestic product (GDP) growth of 6.5%-7.0% in the third quarter, Prime Minister Pham Minh Chinh said on Saturday.

Chinh said Vietnam will stick to its target of keeping inflation below 4.5% this year, according to a statement posted on the government website.

The country, a regional manufacturing hub, reported GDP of 6.93% in the second quarter, accelerating from expansion of 5.87% in the first quarter.

Chinh said Vietnam will focus on improving its investment environment to facilitate business activities during the rest of the year while pursuing a “widening fiscal policy”.

He said the country will also seek to boost domestic consumption and public investment in infrastructure development.

Chinh warned that non-performing loans in the banking system are on the rise, while the property market is still facing headwinds.

(Reporting by Khanh Vu; editing by Jason Neely)


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