Vietnam no longer listed in low-income countries

 Vietnam’s Gross Domestic Production (GDP) increased by 6.8 percent in 2010, making it become a middle-income country with GDP per capita of US$1,168.

 The information was released at a press briefing held by the General Statistics Office in Hanoi on December 31.

 Under the report, Vietnam was one of the countries which quickly recovered from the global economic crisis. The 2010’s GDP growth rate is estimated 6.78 percent, much higher than the 5.32 percent in 2009 and exceeding the year’s target of 6.5 percent set by National Assembly.

 In 2010, industrial production remained stable while export turnover increased sharply. Trade gap was reduced and the tourism sector rose by 34 percent over 2009.

 The state budget revenue as of December 15, 2010 was estimated at 109.3 percent and the state budget expenditure was estimated by 98.4 percent of the year’s forecast. Poverty rate reduced by 10.6 percent compared to 12.3 percent in 2009.

 However, the finance and monetary markets remained complicated with interest and inflation rates rising at the end of the year. The Consumer Price Index (CPI) increased by 9.19 percent over 2009, exceeding the target of 8 percent.

(VOV)