VN’s GDP projected to grow over 7% in 2019
VGP - Việt Nam’s economy could pick up by 7.02% in 2019, according to the National Center for Socio-Economic Information and Forecast (NCIF).
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The NCIF reported that in the 2016-2018 period, the domestic economy bounced back. However, the quality of growth failed to meet the preset goal. Labor productivity was improved but remained modest. Although public debts declined, foreign debts tended to approach the safe limit.
On the other hand, credit was managed in favor of macro-economic growth. Inflation rate was maintained stably. Inflation was put under control, paving favorable ways for macro-economic stability and higher growth.
Mr. Dang Duc Anh, head of the Analysis and Forecast Division at the National Centre for Socio-Economic Information assessed that the world economy is witnessing unexpected developments. Hence it is difficult to make accurate forecast on the world economy and its affects on Viet Nam.
The domestic economy may be brighter thanks to stable macro-economic conditions that could boost foreign direct investment (FDI) and promote economic restructuring and the implementation of free trade agreements (FTAs). In addition, higher consumption of the middle class also promote economic growth./.
By Kim Loan
