The report saw an upward adjustment of 0.3% for the country’s GDP growth rate in 2018 as compared with the previous estimation of 6.5% in the World Bank’s report released on April. Illustration photo. The projection is based on a strong support from agriculture sector and an export-oriented policy, according to the report. Concurrently, the report noted a recent increase in inflation rate is still within the target set by Vietnam’s Government. However, in the mid-term, the economic growth is expected to slow down, in which Vietnam’s GDP growth rate is estimated to be around 6.6% and 6.5% in 2019 and 2020, respectively. The FDI inflows to Vietnam is expected to be remained at a high level, which is mostly based on a positive outlook and the Government’s effort in attracting foreign investments. In overall, growth in developing East Asia and Pacific is projected to ease from an upwardly revised 6.3% in 2018 to 6.1% in 2019, according to the report. The modest slowdown in regional growth is largely due to the gradual structural slowdown in China. Excluding China, activity in the region is expected to slow from 5.4% in 2018 to 5.3% next year. The outlook is predicated… Read full this story
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