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
Forecasting gdp growth
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%
GDP growth target seen hard to achieve in 2012
GDP growth target seen hard to achieve in 2012 By Tu Hoang - The Saigon Times Daily HANOI – Policymakers have expressed concern that the gross domestic product (GDP) growth target of 6-6.5% this year will be hard to achieve given unfavorable changes in the early months. “Some hold a pessimistic view that GDP growth would only stand at 4.5% this year,” said Cao Viet Sinh, deputy minister of planning and investment. However, he said “there are also other predictions that the GDP would grow 6%.” The GDP growth of 4.1% in the first quarter is quite low compared to the average 5.7% in the same period in 2010 and 2011. This is a consequence of the monetary tightening policy shaped in Resolution 11, said Sinh. “This rings a bell of alarm for laborers and social security,” noted the deputy minister. Vu Viet Ngoan, chairman of the National Financial Supervisory Commission, echoed this view, saying GDP growth would hardly reach 6%. He forecast GDP growth … [Read more...] about GDP growth target seen hard to achieve in 2012
US bank sees Vietnam’s GDP growth at 8.2% next year
US bank Goldman Sachs has released a report on the Vietnamese economy, forecasting GDP growth to top 5.1 percent in 2009 and rise to 8.2 percent next year. The report attributed the country's economic turnaround since the second quarter to rising domestic demand. Thanks to the stimulus program and loose monetary policy, the economy has warded off the negative impacts of the global financial crisis rather well, it said. Though the current fiscal policy would continue in 2010, the budget deficit would not rise sharply as a ratio of GDP, it said. The bank predicted policymakers would continue with the gradual devaluation of the dong against the US dollar unless the balance of payments situation becomes highly adverse. It also pointed out some of the challenges the economy has to face now, including inflation, which is trending upward, and the balance of payments situation, which faces a deficit. But it believed that the Government would be able to keep the … [Read more...] about US bank sees Vietnam’s GDP growth at 8.2% next year
Vietnam’s GDP growth rate 5.7per cent this year: ADB
Asian Development Bank released its annual publication, the Asian Development Outlook 2012 (ADO) on April 11, in which it forecasts that Vietnam’s GDP growth rate would slow to 5.7 per cent in 2012 before picking up to 6.2 per cent in 2013. Inflation is forecast to trend down this year, reflecting policy tightening and strong base set for consumer price index in 2011. Food price inflation is abating. Weather conditions for agriculture were generally favourable in the first quarter of 2012 and global food prices are projected to ease this year. Average inflation this year could ease to just under double digits, provided policy settings are kept sufficiently firm. However, experts said that core inflation, which excludes food and energy, will be more persistent. Year average inflation in 2013 is seen quickening to 11.5 per cent due to economic growth and on expectations of higher global food prices and hikes in domestic electricity and fuel costs. ADO supported … [Read more...] about Vietnam’s GDP growth rate 5.7per cent this year: ADB