Vietnam economic growth quickens
- Published: 27 Jun 2013 at 17.34
- Online news:
HO CHI MINH CITY - Vietnam's economic growth accelerated in the second quarter after the central bank cut interest rates to revive lending to businesses and rising foreign investment boosted the nations exports.
Motorcyclists ride near residential buildings under construction in a newly developed area of Hanoi. Rapid urbanisation since the communist nation switched to a market economy in the 1990s has left the country's biggest cities like Hanoi and Ho Chi Minh City heavily congested due to the lack of adequate infrastructure. (AFP file photo)
Gross domestic product grew 5% in the second quarter from a year earlier, according to figures released on Thursday by the General Statistics Office in Hanoi. The economy expanded 4.9% in the first half from a year earlier, the data showed, compared with a median estimate of 5% in a Bloomberg News survey of seven economists.
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