WB: Vietnam’s economy to grow by 6.8 percent in 2018
Updated : Friday, June 08, 2018 2:48 PM (GMT+0700)

Vietnam'seconomy is forecast to expand by 6.8 percent in 2018, 6.6 percent in 2019 and6.5 percent in 2020, according to the World Bank (WB)’s Global EconomicProspects.

A corner of Ho Chi Minh City - the southern economic hub of Vietnam - Photo: VNA

Earlier in April 2018, thebank forecasted Vietnam’s economy to grow by 6.5 percent this year.

According to the bank’slatest report, growth in the East Asia and Pacific region is expected to remainsolid, slowing marginally to 6.3 percent in 2018 and to an average of 6.1percent in 2019-2020.

Conditions are mostlyfavourable for the region in 2018, with robust global trade, moderate borrowingcosts and sustained capital inflows. 

Private consumptioncontinues to be supported by solid consumer confidence and rising householdwealth, amid mild inflation.

Regional financial marketshave remained buoyant, despite volatility in early and mid-2018 related to theprospects of monetary policy tightening in advanced economies and escalatingtrade tensions. 

Bond spreads in somecountries have increased, following volatility in stock markets, but remainclose to low levels of 2017. 

Domestic monetary conditionshave tightened somewhat and prudential policies have kept credit growth incheck.


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