Containers at the Tan Vu terminal of Hai Phong port (Photo: VNA)Hanoi (VNA) – The International Monetary Fund(IMF) projected Vietnam’s economy to grow by 6.6 percent this year and 6.5percent the following year in a recent report.
The IMF released a report namely “World Economic Outlook,April 2018” in which it forecast the GDP growth of emerging Southeast Asianeconomies like Indonesia, Malaysia, the Philippines, Thailand and Vietnam willremain above 5 percent in 2018 and 2019.
Last year, despite many difficulties, Vietnam’s GDPexpanded by 6.81 percent, higher than the target set by the National Assemblyand the highest over the last decade.
In addition, the quality of Vietnam’s economic growth hasalso improved with the overall labour productivity gaining about 6 percent in2017.
Vietnam also saw progress in pursuing a new growth modelbased on productivity and innovation. The country has gradually reduced itsreliance on natural resources, particularly crude oil and shifted their focus toindustry, manufacturing, processing and services.
The Government of Vietnam aims for an economic growth of6.7 percent and an average inflation rate of 4 percent this year.
The IMF also predicted the Asian economy will grow at arate of around 6.5 percent from 2018-2019 and remain as the engine of theglobal economy.
According to the fund, Chinese and Indian economies willincrease by 6.6 percent and 7.4 percent, respectively, in 2018 while thosefigures of 2019 will be 6.4 percent and 7.8 percent, respectively.
Most economic forecasts since early April said Vietnam’sGDP growth will be 6.5 percent or higher this year.
On an annual credit analysis released on April 3, Moody’sInvestors Service said that Vietnam’s real GDP growth will remain robust,averaging 6.7 percent in 2018.
It said Vietnam’s 2018 growth will be supported bydomestic consumption and strong investment growth on the back of public sectorinfrastructure development spending.
Moody's also expects that strong foreign direct investment (FDI) inflows willcontinue to diversify Vietnam's economy and strengthen growth compared withsimilarly rated peers, thereby supporting a stabilization in the government'sdebt burden.
Meanwhile, the World Bank (WB) on April 12 forecastVietnam’s economic growth to stabilise around 6.5 percent in 2018 whileinflation is predicted to remain moderate thanks to a benign global priceenvironment and strong wage growth may ultimately lift core inflation. Externalbalances are projected to benefit from robust exports and FDI inflows.-VNA
The IMF released a report namely “World Economic Outlook,April 2018” in which it forecast the GDP growth of emerging Southeast Asianeconomies like Indonesia, Malaysia, the Philippines, Thailand and Vietnam willremain above 5 percent in 2018 and 2019.
Last year, despite many difficulties, Vietnam’s GDPexpanded by 6.81 percent, higher than the target set by the National Assemblyand the highest over the last decade.
In addition, the quality of Vietnam’s economic growth hasalso improved with the overall labour productivity gaining about 6 percent in2017.
Vietnam also saw progress in pursuing a new growth modelbased on productivity and innovation. The country has gradually reduced itsreliance on natural resources, particularly crude oil and shifted their focus toindustry, manufacturing, processing and services.
The Government of Vietnam aims for an economic growth of6.7 percent and an average inflation rate of 4 percent this year.
The IMF also predicted the Asian economy will grow at arate of around 6.5 percent from 2018-2019 and remain as the engine of theglobal economy.
According to the fund, Chinese and Indian economies willincrease by 6.6 percent and 7.4 percent, respectively, in 2018 while thosefigures of 2019 will be 6.4 percent and 7.8 percent, respectively.
Most economic forecasts since early April said Vietnam’sGDP growth will be 6.5 percent or higher this year.
On an annual credit analysis released on April 3, Moody’sInvestors Service said that Vietnam’s real GDP growth will remain robust,averaging 6.7 percent in 2018.
It said Vietnam’s 2018 growth will be supported bydomestic consumption and strong investment growth on the back of public sectorinfrastructure development spending.
Moody's also expects that strong foreign direct investment (FDI) inflows willcontinue to diversify Vietnam's economy and strengthen growth compared withsimilarly rated peers, thereby supporting a stabilization in the government'sdebt burden.
Meanwhile, the World Bank (WB) on April 12 forecastVietnam’s economic growth to stabilise around 6.5 percent in 2018 whileinflation is predicted to remain moderate thanks to a benign global priceenvironment and strong wage growth may ultimately lift core inflation. Externalbalances are projected to benefit from robust exports and FDI inflows.-VNA
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