Vietnam economic growth at 6.5pc in first nine months

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HANOI, Sept 29 (AFP): Vietnam's economy grew 6.5 per cent in the first nine months of the year, lower than its target rate but still "encouraging" in the "context of a deteriorating world economy", the government said today.
To reach the official aim of 7 per cent growth for the whole year, "the GDP growth for the remaining three months must be 8 per cent," said an official report from the state-run general statistics office (GSO).
Amid double-digit inflation, Vietnam had to lower its growth target for 2008, after recording 8.5 per cent growth in 2007.
But some parts of the media estimate the economy will grow at less than the 7 per cent target, while the government says it has changed its focus from high growth to containing inflation to ensure stability and social security.
Vietnam's inflation rate in September reached 27.9 per cent compared to a year ago.