Vietnam’s economic outlook for 2014-2015 needs to be imbedded with thestronger restructuring of the national economy in order to shape a newgrowth model, said an official from the Central Institute of EconomicManagement (CIEM).
Dr. Vo Tri Thanh, CIEM deputyhead, made the remark at a January 21 conference called “2014 globaleconomic prospects - coping with policy normalisation in high-incomecountries” held in Hanoi by the CIEM and World Bank.
He said hastening economic restructuring helps Vietnam’s maincomponents, including State-owned enterprises and banks, operate moreefficiently and better adapt to environmental issues, especially climatechange.
After a couple of years of recession,the global economy is showing signs of a bounce back this year, pulledalong by a recovery in high-income economies, international economistsprojected.
In addition, developing country growthis firming up, thanks to the recovery in high-income economies andgrowth in emerging markets, especially China.
However, they said pressure from increasing interest rates and credit bubble in some countries may impose risks.
The growth in East Asia and the Pacific will stay at 7.2 percent in2014 and see a slight decrease to 7.1 percent in the next two years,said Andrew Burns, Manager of the Global Macroeconomic Trends Team ofthe Development Prospects Group at the World Bank.
If realised, Burns anticipates the growth rate will mitigate thevulnerability accumulated during the years of middle-income economies’rapid development.
Economic recovery inhigh-income nations will propel developing countries’ growth, which,however, will be partly hampered by tightening finance and reducingcommodity prices, the WB official said.-VNA
Dr. Vo Tri Thanh, CIEM deputyhead, made the remark at a January 21 conference called “2014 globaleconomic prospects - coping with policy normalisation in high-incomecountries” held in Hanoi by the CIEM and World Bank.
He said hastening economic restructuring helps Vietnam’s maincomponents, including State-owned enterprises and banks, operate moreefficiently and better adapt to environmental issues, especially climatechange.
After a couple of years of recession,the global economy is showing signs of a bounce back this year, pulledalong by a recovery in high-income economies, international economistsprojected.
In addition, developing country growthis firming up, thanks to the recovery in high-income economies andgrowth in emerging markets, especially China.
However, they said pressure from increasing interest rates and credit bubble in some countries may impose risks.
The growth in East Asia and the Pacific will stay at 7.2 percent in2014 and see a slight decrease to 7.1 percent in the next two years,said Andrew Burns, Manager of the Global Macroeconomic Trends Team ofthe Development Prospects Group at the World Bank.
If realised, Burns anticipates the growth rate will mitigate thevulnerability accumulated during the years of middle-income economies’rapid development.
Economic recovery inhigh-income nations will propel developing countries’ growth, which,however, will be partly hampered by tightening finance and reducingcommodity prices, the WB official said.-VNA
