Vietnam’s economy forecast to expand faster this year -- Vietnam+ (VietnamPlus)

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Vietnam’s economy forecast to expand faster this year

12/03/2010 | 21:13:38

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Vietnam’s long-term economic prospects remain positive, yet the next two years will be challenging, according to the Economist Intelligence Unit (EIU).

In the latest report themed “Vietnam-Country Forecast February,” the world’s leading economic advisory firm said the pace of expansion in GDP in the 2010-2011 period will accelerate from the 5.3 percent recorded in 2009 but it is not expected to return to the heady rates of the years before the world financial crisis.

According to the EIU, Vietnam has overcome the negative effects of the global economic crisis and the recovery of the world’s economy will have positive impacts on the country’s exports.

Also, increasing imports in the recent time have shown that investment and consumption demand has been bolstered.

The agency, however, warned that pressures regarding budget deficits and inflation are still haunting the stability of the national economy.

Vietnam still needs to confront many policy-related challenges, including how to strike a balance between tightening its fiscal policy in order to support foreign exchange rates and keep inflation under control, and maintaining a relatively loose monetary policy to avoid a credit crunch for enterprises./.

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