HANOI, Vietnam - Vietnam says its economy grew by just 5 per cent this year, the lowest growth rate in 13 years.
The slack growth comes as the country's communist government is struggling with debt in its bloated state-owned sector and in its banks, along with a high inflation rate.
The statistics office said Monday that the 5 per cent growth was "reasonable" given the global economic environment.
Vietnam was once considered an Asian economic tiger, but has struggled over the last 18 months, adding to pressures on its leaders.
The government has pledged to reform the banking sector, but there are doubts whether it has the political will to push any reforms through.
Rampant corruption and lack of decent infrastructure are also putting off foreign investors.
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