(MENAFN) The Vietnamese authorities said that the country's economy expanded 5.98 percent in 2014, marking the highest growth in three years despite a severe banking crisis, AFP reported.
The figures were higher than last year's increase of 5.42 percent and 5.25 percent in 2012, marking a positive sign, according to a statement posted on the General Statistics Office's website.
In June, the central bank devalued the Vietnamese dong by one percent to help boost exports following deadly riots in May after China moved an oil rig into waters claimed by Vietnam.
Vietnamese inflation slowed to 4.09 percent in 2014, down from around 6.04 percent in 2013, the GSO added. The government is targeting economic growth of 6.2 percent next year.
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