Vietnam Economy ADB raises Vietnam’s growth forecast to 6.9% this year By Trang Nguyen Wednesday, Dec 11, 2019,19:45 (GMT+7) ADB raises Vietnam’s growth forecast to 6.9% this yearBy Trang Nguyen Employees are seen working at a local firm. Vietnam’s GDP growth in the first three quarters of 2019 accelerated to 7%, the highest rate for the period in nine years – PHOTO: DAO LOAN HCMC – While trimming its forecasts for economic growth in developing Asia this year and next given the slower growth in China and India, the Asian Development Bank (ADB) has raised Vietnam’s growth forecast to 6.9% for 2019 and 6.8% for 2020. In a supplement to its Asian Development Outlook 2019 Update released in September, ADB expects gross domestic product (GDP) in the region to expand 5.2% in both 2019 and 2020, down from the September forecast of 5.4% growth this year and 5.5% next year. In Vietnam, GDP growth in the first three quarters of 2019 accelerated to 7%, the highest rate over the same period in nine years. Private consumption rose by 7.3% and investment expanded by 7.7%, boosted by an improved business environment, continued investor confidence and increased foreign direct investment. With unexpectedly strong growth momentum in… Read full this story
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