The Hanoitimes - Vietnam’s economy is projected to continuously maintain good performance next year with GDP to expand roughly 6.8 percent despite both internal and external challenges. The Ministry of Planning and Investment (MPI) has recently forecast GDP to rise by 6.6-6.8 percent in 2019 after the country’s economic growth reportedly hit eight-year high of 6.98 percent in the first nine months of this year, helping it ease to meet the 6.7 percent target set for 2018 by the National Assembly. Macroeconomic stability will create impetus for Vietnam’s economy next years Tran Quoc Phuong, head of MPI’s National Economic Issues Department, forecast that Vietnam’s economic growth prospects in the next two years will continue positive thanks to the country’s stable macroeconomy and confidence improvement of both foreign and local firms on the country’s business and investment environment. Echoing Phuong, Nguyen Bich Lam, head of the … [Read more...] about Positive forecasts for Vietnam’s GDP growth
Forecasting gdp growth
WB forecasts GDP growth of 6.3% in 2017
The Hanoitimes - The World Bank forecasts Vietnam`s economic growth in 2017 at 6.3% and will inch up to 6.4% in the next two years. The forecast released by the World Bank in the latest Asia-Pacific economic update, with a medium-term view, Vietnam's prospects remain favorable. GDP growth is expected to increase gradually between 2017 and 2019, mainly in terms of strong domestic demand and export-oriented manufacturing and processing activities. However, in addition to GDP growth is estimated to reach 6.3% in 2017, higher than the estimated 6.2% last year. Most other indicators, such as consumer spending, asset accumulation and import/export, are forecast to outperform 2016. Inflationary pressures are generally low as global energy and commodity prices are falling. On the budget, the budget situation will be strengthened somewhat in the coming time, but the process of divestment will increase rapidly, but will be implemented gradually to curb the increase of public debt. According … [Read more...] about WB forecasts GDP growth of 6.3% in 2017
StanChart forecasts GDP growth at 6.6%
StanChart forecasts GDP growth at 6.6% Dinh Hiep HCMC - Standard Chartered has forecast Vietnam's GDP will expand 6.6% in 2017 due to the impact of natural disasters. The strong rise of manufacturing and construction will continue to be the main growth driver this year. The forecast was given at the Global Research Briefing 2017 held by Standard Chartered in HCMC last Friday. The event was attended by representatives from more than 100 domestic and foreign enterprises. This annual event showcased the global research report recently published by Standard Chartered, titled "Welcome to the jungle". According to the report, a veritable jungle of risks and opportunities is lurking ahead. The global GDP growth is projected to be 1.5%, the same as in 2016, with the emerging markets as the main growth impetus. Marios Maratheftis, chief economist at Standard Chartered, said: "2017 promises to be a year full of excitement and also uncertainties. The potential recovery of the U.S. economy is … [Read more...] about StanChart forecasts GDP growth at 6.6%
Vietnam PM sees strong 2015 GDP growth, hurdles ahead
Vietnam expects economic momentum to pick up next year but inefficiency, bad debt and weak domestic sentiment will keep a lid on growth, the country's prime minister said on Monday. The Southeast Asian nation expects economic growth of 6.2 percent in 2015, faster than the targeted 5.8 percent this year. After a long struggle with runaway prices, Vietnam plans to keep inflation at 5 percent in 2015, compared with a government projection of below 5 percent this year, Prime Minister Nguyen Tan Dung told the National Assembly in a televised opening session. "The macro economy and major economic balances are not sustainable," Dung said, citing a high state budget deficit, fast rising debt and slow growth in aggregate demand and bank credit. "Economic growth has made a step towards recovery but the business environment and productivity, efficiency and competitiveness of the economy remain low." Dung's comments are in line with those of many independent economists, who say strong exports and … [Read more...] about Vietnam PM sees strong 2015 GDP growth, hurdles ahead
ANZ forecasts 6.5 pct GDP growth for Vietnam in 2015-16
ANZ, in a report issued Monday, has revised its GDP growth forecast for Vietnam to 6.5 percent year-on-year for both 2015 and 2016, from 6.2 percent and and 6.4 percent, respectively. The increase is attributed to a recovery of domestic demand pointed by various indicators, including the rise in industrial production and retail sales, according to a report issued by ANZ on Monday. Industrial production posted the fastest annual gains since 2012. ANZ estimates industrial production growth of 14.2 percent year-on-year over the first two months of the year, up from 5.6 percent over the same period in 2014. Retail sales see the fastest rise over the past 5 years, averaged at 13.7 percent in the first two months. ANZ has also downwardly revised inflation forecasts to 2.6 percent in 2015 and 3.8 percent in 2016 from previously at 3 percent and 4.5 percent, respectively. “With a subdued inflation outlook, we see sufficient room for the central bank to further loosen monetary … [Read more...] about ANZ forecasts 6.5 pct GDP growth for Vietnam in 2015-16