Vietnam re-gained macroeconomic stability over the past year, butthe economy is progressing at two speeds, the International MonetaryFund (IMF) said in a press release on August 9.
According to IMF’s latest consultation with Vietnam , the exportsector is performing well, especially foreign direct investment (FDI)enterprises.
The domestic sector, though improving,has yet to find a solid footing because of several factors, includinglow productivity, structure of resource allocation, impaired bankbalance sheets and inefficiency in several state-owned enterprises(SOEs).
Credit growth has picked up modestly inreal terms, mostly concentrated in the export-oriented and agriculturalsectors. Headline inflation has declined significantly, but underlyingpressures persist, it said.
IMF projects Vietnam’s grow rate to be 5.03 percent in 2013, supported by exports. Thisoutlook, however, depends on an improvement in the global economy,broadly unchanged monetary and exchange rate policies, and a measuredwithdrawal of fiscal stimulus.
Vietnam should remainfocused on achieving low and stable inflation, supporting the exchangerate anchor, and replenishing international reserves, the world’srenowned financial institution noted.-VNA
According to IMF’s latest consultation with Vietnam , the exportsector is performing well, especially foreign direct investment (FDI)enterprises.
The domestic sector, though improving,has yet to find a solid footing because of several factors, includinglow productivity, structure of resource allocation, impaired bankbalance sheets and inefficiency in several state-owned enterprises(SOEs).
Credit growth has picked up modestly inreal terms, mostly concentrated in the export-oriented and agriculturalsectors. Headline inflation has declined significantly, but underlyingpressures persist, it said.
IMF projects Vietnam’s grow rate to be 5.03 percent in 2013, supported by exports. Thisoutlook, however, depends on an improvement in the global economy,broadly unchanged monetary and exchange rate policies, and a measuredwithdrawal of fiscal stimulus.
Vietnam should remainfocused on achieving low and stable inflation, supporting the exchangerate anchor, and replenishing international reserves, the world’srenowned financial institution noted.-VNA
