Hanoi’s GDP Growth Expected At 8.1pct

The gross domestic product (GDP) of Vietnam’s capital city of Hanoi is forecast to grow 8.6% in the fourth quarter of this year, local media reported Monday, citing the municipal government at a meeting on Nov 9 but giving no on-year comparison.

This will be the highest growth rate compared to 7.3% in the first quarter, 7.9% in the second and 8.5% in the third quarter, the city said in a report.

Hanoi’s GDP growth in the fourth quarter will be driven by good performance of agriculture, it said.

The full-year economic growth rate is estimated at 8.1%, down from 10.14% in 2011, it said, adding that city budget collection 2012 may reach VND128 trillion ($6.12 billion), down 0.4% on year and equal to just 87.5% of the target.

The year’s inflation is expected to be curbed at a single- digit after the city’s consumer price index (CPI) in October rose 6.75% on year and 5.8% from end-December 2011. Vietnamese Prime Minister Nguyen Tan Dung said the government is striving to achieve a GDP growth of

5.2% and tame inflation at around 8% this year.

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