Somalia gdp growth

Vietnam is showing signs of socio-economic recovery though the COVID-19 pandemic remains complex, according to Francois Painchaud, Regional Resident Representative of the International Monetary Fund (IMF) in the country. IMF Regional Resident Representative Francois Painchaud addresses the Vietnam Economic Forum in Hanoi on December 5 (Photo: VNA) Speaking at the Vietnam Economic Forum 2021 on December 5, Painchaud said the this started in the fourth quarter, and the country can achieve a GDP growth rate of 2.5 percent this year and 6.6 percent in 2022. He underlined the importance of enhancing the healthcare capacity to economic recovery, noting that timely fiscal and monetary policies for right groups and tools of restructuring to support development in the long term can help minimise the pandemic’s impact. The official held that the size of fiscal measures in developed economies can be applied to other countries, including Vietnam. More importantly, policy support …

Continue Reading about Vietnam’s economy showing signs of recovery: IMF official →

Vietnam continues to meet the U.S. Department of the Treasury’s criteria for not being labeled as a currency manipulator, the Treasury said in its semiannual currency report on Friday. In its latest report on its website, the Treasury said it found that no major trading partners of the U.S. over the four quarters through June 2021 sought to manipulate their currencies for an unfair competitive advantage in international trade or for preventing effective balance of payments adjustments. In particular, Vietnam and the territory of Taiwan meet all three criteria of trade surplus, current account surpluses, and exchange rate intervention, according to the Trade Facilitation and Trade Enforcement Act of 2015 (2015 Act). However, the department said it would continue to work with Vietnam and Taiwan to address U.S. concerns. In early 2021, the Treasury began enhanced bilateral engagement with Vietnam based on the 2015 Act, and the agency and the State Bank of Vietnam (SBV) later …

Continue Reading about Vietnam is not a currency manipulator: US Treasury →

Speaking to a Vietnam News Agency correspondent in Moscow on the visit, Yatskin said that the Vietnam-Russia relationship is experiencing a period of strong growth and need to be further reinforced. He noted that the two countries share a special relationship not only in terms of politics but also in the sentiment of people of both sides towards each other, and the elevation of bilateral ties to a comprehensive strategic partnership in 2012 reflected their sound relationship. Yatskin noted that the economic partnership between Vietnam and Russia is expanding impressively, with two-way trade reaching 5.7 billion USD in 2020, up 15 percent year on year despite COVID-19 impacts. This year, the figure is expected to hit 6.5 billion USD. He attributed the results to the efficiency of the free trade agreement between Vietnam and the Eurasian Economic Community (EAEC) that was signed in 2015. At the same time, the two countries have enjoyed sound cooperation in science, with Russian …

Continue Reading about Vietnamese President’s Russian visit impressive: Russian legislator →

Showing support for the ADB’s opinions raised at the forum, Chairman Hue paid special attention to the bank’s recommendations related to the size of a policy package aiding economic recovery. He agreed with the bank that international cooperation holds great importance to increasing resources for economic recovery. He said the lender has always been an important partner of Vietnam, noting that amid the COVID-19 pandemic that remains complicated around the globe and the coming into being of a new variant, the country will have to carry out an economic stimulus package that is big and long enough to maintain and boost driving forces for growth, overcome difficulties caused by the pandemic, and develop sustainably in the time ahead. The top legislator expressed his hope that the ADB will keep assisting Vietnam in the pandemic combat and economic recovery. He called on the bank to provide Vietnam with capital for investment projects and policy advice on sustainable development, as well …

Continue Reading about N.A. leader receives ADB Country Director in Vietnam →