Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home  >>   Daily News  >>   Vietnam  >>Economy  >> WB report ups growth forecast to 6% in 2015
NEW UPDATES Asean Affairs  16 April  2015  





WB report ups growth forecast to 6% in 2015

April, 14 2015: The Vietnamese economy is set to grow by 6 per cent this year, according to the East Asia and Pacific Economic Update released yesterday morning by the World Bank.

The rate is 0.5 per cent higher than the ban k's projection last October.

After some turbulence in mid-2014, Viet Nam's economic performance rebounded and year-end growth exceeded expectations.

At the heart of this comeback was stronger macro-economic fundamentals, solid foreign direct investment (FDI) in manufacturing and exports from the sector, and key business climate improvements.

The report said inflation will be moderate this year because of low global energy and food prices, and a gradual recovery in domestic demand.

It said strong exports and robust remittances would keep the current account in surplus, albeit at a diminished level as stronger domestic economic activity stoked import growth.

Fiscal deficit would decline to under four per cent of GDP by 2017, underscoring the need for fiscal consolidation over the medium term, together with a credible plan to strengthen the finances of State-owned enterprises (SOEs) and the State-owned banking sector to preserve public-debt sustainability.

Although economic growth was improving, the World Bank warned that Viet Nam was still performing below its potential, due to slow-moving structural reforms, especially in the banking sector and SOEs.

It said the country still faced risks in its medium-term outlook, which remained mostly on the downside.

For example, weak global prices and other agricultural products might adversely affect rural incomes and consumption and widen the urban-rural gap. Falling oil prices could also put additional pressure on budget revenues.

Global growth remained sluggish and subject to much uncertainty, and might dampen Viet Nam's export and FDI inflows.

The report also spoke of opportunities for Viet Nam.

It said emerging trade agreements would provide opportunities for enterprises to reach out to bigger and richer markets.

Besides, domestic reforms, including medium-term fiscal consolidation, further improvements in the business climate and more credible and visible SOE and banking sector reforms would send important signals to domestic and international investors and lay the groundwork for stronger future growth, the report said.


Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below



 
Today's  Stories                           April  16 , 2015 Subsribe Now !
• WB report ups growth forecast to 6% in 2015 Subcribe: Asean Affairs Global Magazine
• Pertamina seeking buyers of Tiung Biru gas
• Singapore's GDP grew 2.1% on-year in Q1 2015: MTI
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Budget for 2016 grows to $4.3B
• Quang Binh lures new investments
Asean Analysis                   April 3, 2015
• Asean Analysis April 3, 2015
In Laos, a Strategic Opening the United States Cannot Miss
Advertise Your Brand

Asean Stock Watch  April 10,  2015
• Asean Stock Watch-April  10, 2015
The Biweekly Update
• The Biweekly Update April 3, 2015

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan

ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com