The Hanoitimes - HSBC predicted Vietnam’s economy to enlarge 6.5% in 2019 and 6.3% one year later, following the 10-year high of 7.08% in 2018. The country, however, is projected to remain the fastest-growing economy in ASEAN. Growing repidly, Vietnam's economy still remains behind regional peers Experts warn Vietnam's economy shows signs of losing momentum US-China trade war affects Vietnam's economy Private consumption has grown bigger in Vietnam's economy, and is expected to support GDP growth this year despite weaker global demand and a slowing electronics trade cycle, according to HSBC’s latest report. Private consumption as a percentage of GDP has risen sharply in recent years, reaching 67.6% in 2017, stated the report, adding that a declining unemployment, rising wages, and expansion of tourism continue to drive up private consumption in 2019. Indeed, wage growth has been at slightly above trend as of the second quarter of 2018 over the past … [Read more...] about Private consumption expected to be driving factor for Vietnam’s GDP growth in 2019: HSBC
What is gdp growth rate
The Hanoitimes - Vietnam`s nominal GDP in 2018 is forecast to grow over 6.7% to reach VND5,555 trillion (US$240.5 billion), leading to GDP per capita of US$2,540, up 6.3% year-on-year or US$155. Vietnam targets the GDP growth rate of 6.6 - 6.8% in 2019, Vice Minister of Planning and Investment Nguyen Van Trung was quoted by VnEconomy as saying. Illustrative photo. Additionally, the country expects export turnover to increase by 7 - 8% and keep trade deficit below 3%, Trung said at a meeting on October 9. In 2019, total social investment would account for 33 - 34% of GDP, while the average CPI is projected to reach around 4%, Trung informed. Vietnam's labor force (from the age of 15 upwards) would be around 55.9 million, up 1.97% year-on-year, state budget revenue of VND1,411 trillion (US$60.57 billion), up 7% year-on-year. Meanwhile, Vietnam's budget expenditure is expected at VND1,633 trillion (US$70.10 billion), up 7.2% year-on-year, resulting in a … [Read more...] about Vietnam targets GDP growth rate of 6.6 – 6.8% in 2019
IMF maintains China's 2018 GDP growth forecast at 6.6% Workers weld shipping container components at a container manufacturing company in Lianyungang, Jiangsu province, China May 29, 2018 - PHOTO: REUTERS BEIJING (REUTERS) - The International Monetary Fund kept its forecast for China's 2018 economic growth unchanged at 6.6% on May 30, but warned that overly rapid credit growth and trade frictions could pose risks for the world's second-largest economy. China's economy grew 6.8% in the first quarter of 2018, slightly faster than expected, buoyed by strong consumer demand and surprisingly robust property investment. Earlier in January, the IMF raised its forecast for China's economic growth this year to 6.6% from 6.5%. Beijing in March set a full-year growth target of around 6.5%. Economists expect growth to slow to 6.5% this year from 6.9% in 2017, citing rising borrowing costs, tougher limits on industrial pollution and a crackdown on local government spending. China should … [Read more...] about IMF maintains China’s 2018 GDP growth forecast at 6.6%
VietNamNet Bridge - The pressure for more debt/equity swaps has increased as 50 percent of Vietnam's domestic debt matures in the next three years. In recent years, the Ministry of Finance’s (MOF) announcements on imposing new taxes or raising tax rates is no longer stirring long debates. Formosa and Samsung were the two enterprises which made great contributions to the miracle GDP growth rate of 6.81 percent last year, but the tax collections from them increased insignificantly as they were both enjoying tax incentives. The public debt in 2017 decreased to 61.3 percent of GDP, but the amount was still very high, over VND3,000 trillion. More seriously, Vietnam is among the countries with the highest debt-to-GDP ratios (up by 10 percent in 2012-2017), according to the World Bank. US$1=VND22,000 RELATED NEWS Finance Ministry plans new personal income rates Will US amended tax law divert FDI flow from Vietnam? Kim Chi … [Read more...] about What should be done when overspending and public debt are on the rise?
VietNamNet Bridge - Vietnam has one of the highest proportions of import/export turnover to GDP in the region, over 180 percent. The growth of import/export turnover is considered an important target Analysts and policymakers point to the close relations between foreign trade and economic growth, saying that the growth of import/export turnover is considered one of the most important targets by the National Assembly. Vietnam’s proportion of import/export turnover to GDP is higher than the 120 percent of Thailand and Malaysia, and higher than the 40 percent of China, which has been the fastest growing economy in the world in the last four decades. Pham Van Dai, an analyst, in his article in Thoi Bao Kinh Te Sai Gon, pointed out that Vietnam is an outsourcing economy with limited domestic input materials (mostly natural resources such as land, water sources, minerals and cheap labor force). RELATED NEWS Oil & gas loses the ‘throne’ as the biggest … [Read more...] about What is a suitable growth rate of foreign trade for Vietnam?