The problems of progress
Article Abstract:
Vietnam's development over the past year shows signs both promising and disturbing, with new problems accompanying new breakthroughs. The economy will grow 9.5% in 1995, up from 8.8% the year before, with exports up 25%, but the cost of living index as up 17% in the first nine months, and poverty is endemic. The country is more involved in the outside world, but external influences are blamed for social ills. The Communist Party is accused of both timidity and selling out, and it is aging faster than the population.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Too fast for comfort
Article Abstract:
Outside experts worry that Vietnam's rapid growth rate may cause problems that outweigh its benefits, including rising inflation and unemployment. The economy wil grow up to 10% in 1995, up from 8.8% in 1994, with industry expanding 14%. However, the cost of living in the year through Sept was up 17%, vs 5.7% in 1993. Exports and imports for 1995 will both be up about 30% and the current-account deficit will hit 8.6% of GDP at $1.5 billion. Foreign aid and investment are not flowing in as quickly as promises are.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Full of surprises
Article Abstract:
Government and independent estimates of several figures on Vietnam's economy vary considerably. Money supply growth in 1994 was apparently between 22% and 30%, the current-account deficit between 5.2% and 7.1%, and the 1995 govt deficit between 3.5% and 8.4% of GDP. While imports continue to rise to support development, exports are catching up and the trade deficit in 1995 should be far smaller than 1994's $1.4 billion. GDP growth in 1994 reached 8.8%, with a likely 9%-10% rate this year.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
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