Vietnam: WB forecasts Vietnam’s GDP growth of 6.3% – 14 Jul 2017

  • The World Bank (WB) on 13 Jul 17 released its bi-annual report on Vietnam’s economy, keeping its country GDP forecast at 6.3% in 2017 following an economic boost in 2Q17.
  • After a disappointing performance in 1Q17, Vietnam’s economy kicked on in 2Q17, with an estimated GDP of 5.7% 1H17.
  • Manufacturing and retail trade were the two biggest contributors to GDP growth in 1H17 at 1.8 and 0.6% points respectively, according to the report.
  • The WB projection for Vietnam’s GDP growth is significantly lower that the country’s target of 6.7%, while the International Monetary Fund last week also lowered the GDP outlook for Vietnam from 6.5% to 6.3%.
  • The WB also projected the inflation rate to hover around 4.5% in 2017 and 2018.
  • The WB suggested that the Vietnamese Government consider solidifying macroeconomic stability and rebuilding policy buffers while trying to lower the fiscal deficit and contain risks from rapid credit growth.

External Link : http://vietnamnews.vn/economy/380115/wb-forecasts-viet-nams-gdp-growth-of-63.html#1ggDF8vjwFQsoiz5.97

14-Jul-2017


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