RTTNews - Wednesday, Vietnam's Deputy Prime Minister Nguyen Sinh Hung told parliament that the government may need to lower its economic growth target for 2009 to 5% from 6.5% due to global economic crisis. But he noted that the economy is showing positive signs and the worst may be over.
The economy grew 3.1% in the first quarter of this year compared with a year earlier and 6.2% in 2008, down from 8.5% in 2007.
While urging the parliament in its opening session to approve the reduction in the growth target, Hung said, Our economy has started moving in a positive direction.
Vietnam is one among the few countries who have registered positive growth in the first three months of the year at a time when all major economies fell deeper into recession.
He told lawmakers that the global recession is weighing down the country's export markets and domestic industries are not yet out of the storm.
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