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Vietnamese parliament sets GDP growth at 6.7 pct for 2016

Xinhua, November 10, 2015 Adjust font size:

Vietnam National Assembly (NA) on Tuesday passed a resolution on socio-economic development target for the year 2016, setting the Gross Domestic Product (GDP) growth rate at 6.7 percent.

The resolution was approved by 447 NA deputies, or 100 percent of NA deputies presented at the ongoing 10th session of the 13th NA meeting on Tuesday in capital Hanoi, according to the website of Vietnamese government.

The inflation rate for 2016 is set to be kept under 5 percent, while growth of total import-export revenue at 10 percent. The unemployment rate at urban area will be kept under 4 percent, said the resolution.

The parliament requested the government to focus on economic restructuring, increasing capacity, effectiveness and competitiveness of the economy.

The government was also asked to flexibly manage policies on monetary and finance, maintain suitable interest rate and exchange rate, effectively handle bad debts and control public debts, government debts and foreign debts.

According to a government report on socio-economic development situation in 2015 presented earlier by Vietnamese Prime Minister Nguyen Tan Dung at the ongoing NA meeting, Vietnam's GDP growth is expected to surpass the target of 6.2 percent to reach 6.5 percent. Endit