HANOI - Vietnam said on April 20 its economy was developing on positive and
stable lines, with higher industrial production, exports, imports and retail
sales.
The official Vietnam News quoted minister Le Xuan Trinh as saying
industrial output in the first quarter of this year was 11.4 percent higher than
last year.
Exports increased 18 percent and imports by 20.6 percent over
the same period, confirming a trend towards a growing trade deficit. Vietnam,
modernising its communist economy on market lines, is bringing in more goods to
repair its crumbling infrastructure.
Exports of rubber increased by 12
percent and coffee by 30 percent, the newspaper quoted Trinh as telling a news
conference in Ho Chi Minh City to which foreign journalists were not
invited.
Trinh, Director of the Government office with cabinet rank, said
retail sales were up 19 percent during the same period, "indicating that
purchasing power is increasing," Vietnam News reported.
Prices were
stabilizing after a surge during February's annual lunar New Year
holidays.
Inflation last year was 5.2 percent. Trinh said the monthly
figure for January 1994 was 1.87 percent, February 3.7 percent and March 0.4
percent.-Reuters
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