Vietnam 5.2% economic growth despite world wide recession
Vietnam is one out of 10 or 12 countries to weather world financial crisis with positive gross domestic product of 5.2%.
The year 2009, the Year of the Buffalo, was a difficult, but important period for Viet Nam. While adversely affected by the global economic crisis, together with perhaps only 10 or 12 other nations, the nation rode out the worst effects and maintained positive Gross Domestic Product (GDP) growth of 5.2 per cent.
This was largely due to flexible Government policies, particularly a large (US$6.9 billion) stimulus package to cover a remarkable fall in exports and foreign direct investment (FDI). The package is still being used to subsidize interest rates, provide tax breaks, and promote consumption.
(Source: Vietnamnews.vnanet.vn)