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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Vietnam economy grows 6.23 pct in 2008, below target AFP - Thursday, December 25 HANOI (AFP) - - Vietnam's economy grew 6.23 percent in 2008, below government forecasts, national television said Wednesday, reporting the results of a cabinet meeting. The government, which had predicted gross domestic product growth of around 6.5 percent this year, forecast similar expansion in 2009. "Our focus for next year is... to ensure social security and maintain growth, trying to reach the target of 6.5 percent," Prime Minister Nguyen Tan Dung said on national television VTV. While Vietnam's economic growth remains high compared with the United States, Europe and Japan which are struggling with the global economic crisis, it is sharply down on the 8.5 percent recorded in 2007. Vietnam's central bank has cut interest rates five times since the end of October, to 8.5 percent, to free up credit and help stimulate the economy. Earlier this year the bank raised its benchmark rate several times to fight double-digit inflation, which has now started to ease, falling to 24.2 percent year-on-year in November after having topped 28 percent in August. Vietnam, a major exporter of manufactured goods such as clothing and footwear and commodities including rice, coffee and seafood, has already been hit by downturns in the United States, Europe and other markets. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy US sees progress in easing trade disputes with ChinaAFP - Thursday, December 25 Vietnam economy grows 6.23 pct in 2008, below targetAFP - Thursday, December 25 Cuba says GDP rose 4.3 percent in 2008AP - Thursday, December 25 US STOCKS SNAPSHOT-Wall St ends short session on upswingReuters - Thursday, December 25 Related Articles: Business US STOCKS-Wall St gains on economic hopes, holiday bargainsReuters - 1 hour 6 minutes ago Mexican stocks gain on US spending reportAP - 1 hour 7 minutes ago Fed lets GMAC tap bailout fundAP - 1 hour 18 minutes ago Holiday season magnifies shoppers' frugalityAP - 1 hour 34 minutes ago FedEx sorting stations open for part of ChristmasAP - 2 hours 8 minutes ago Enlarge Photo Vietnam economy grows 6.23 pct in 2008, below target Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed US sees no holiday cheer; Russia, China warn of grim 2009 Housing market feels more pain, bottom not yet in sight French investor takes life after massive losses in Madoff scandal Quake zone hero pig named China's animal of the year Actress Jennifer Aniston appears naked in GQ magazine View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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