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Minister sees Vietnam's Q1 2015 GDP growth at 5.5-5.6%: media

[HANOI] Vietnam's economy grew an estimated 5.5-5.6 per cent in the first quarter from a year ago, faster than the 5.06 per cent rise in the same period last year, a deputy minister was quoted as saying on Wednesday.

Full-year annual economic growth could reach 6.2 per cent as targeted and may even hit 6.4 per cent in favourable conditions, vice minister of planning and investment, Dao Quang Thu, was quoted by state-run online newspaper VnExpress as telling a ministry meeting held on Wednesday.

Vietnam's trade deficit during January-March is estimated at US$1.8 billion, or 5 per cent of total exports value in the period, VnExpress said in the same report about the meeting. It did not give a source for the information.

The government has targeted 2015 gross domestic product growth to accelerate to an annual 6.2 per cent, from 5.98 per cent last year, while the World Bank expects 5.6 per cent growth and the Asian Development Bank sees 6.1 per cent expansion.