February 2, 2015 / 7:02 AM / 3 years ago

Vietnam's Q1 2015 GDP growth to quicken to 5.4 pct y/y

HANOI, Feb 2 (Reuters) - Vietnam’s economic growth will quicken to an annual rate of 5.4 percent in the first quarter ending March, a government thinktank forecast on Monday.

“This trend will continue in the following quarters and the growth target of 6.2 percent for the whole of 2015 is feasible,” the National Financial Supervisory Commission said in a report, echoing a government forecast of economic growth for the year.

Monday’s forecast compares with gross domestic product growth of 5.06 percent in the first quarter of 2014 from a year before, government data show.

Annual average inflation would slow to 3 percent this year thanks to low oil prices, the commission said, citing slowing core inflation in December 2014, and also taking into account average inflation declining in recent years.

Core inflation in December, which excludes the price of food, essential goods and public services, stood at around 3 percent, while the country’s average inflation last year slowed to 4.09 percent from 6.6 percent in 2013. (Reporting by Ho Binh Minh; Editing by Eric Meijer)

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