HANOI: Vietnam's economic growth may slow to 5.4-5.6 percent in the first quarter from 7.34 percent in the final quarter of 2010, the government said on Tuesday.
A slowed pace of year-on-year growth in gross domestic product (GDP) would be in line with moves by authorities this quarter to cool the country's double-digit inflation.
For the first quarter, Vietnam's trade deficit would be around $3 billion this quarter, slightly down from $3.1 billion in the same period last year.
Exports could rise 29.7 percent in the first three months from the same period last year to an estimated $18.8 billion while imports may grow 23.9 percent to $21.8 billion, it said.
Vietnam is grappling with some of the highest inflation in the region after the annual consumer price index (CPI) hit 12.31 percent in February.
A series of steps by authorities to try to stabilise the economy has included cutting spending, lowering the official credit growth target, raising key interest rates and clamping down on the unofficial foreign exchange market.
Still, the CPI is expected to rise around 2 percent this month from February in the wake of a recent 8.5 percent dong devaluation and increases in petrol and electricity prices, the Ministry of Industry and Trade has said.
For 2010, Vietnam's GDP grew 6.8 percent while inflation hit 11.75 percent.
The government will continue tighter monetary policies, deal with dollarisation and gold holdings as well as strictly manage the foreign exchange market to curb inflationary pressures and stabilise the economy, the news website quoted Prime Minister Nguyen Tan Dung as saying.
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