Illustrative image (Photo: VNA) Hanoi (VNA) – The Asian Development Bank (ADB) has retained its forecast forVietnam’s economic growth at 6.9 percent in 2018 and 6.8 percent in 2019 in itsnew report.
In the update of its AsianDevelopment Outlook released on December 12, the bank said inflation rate inVietnam is expected to hit 4 percent in 2018 and 4.5 percent next year.
The bank maintained its2018 and 2019 economic growth estimates for Asia at 6.0 percent and 5.8percent, respectively.
The ADB also kept its6.6 percent and 6.3 percent growth projections for China as well as its 7.3percent and 7.6 percent growth expectations for India for both years.
Early this month, USPresident Donald Trump and Chinese counterpart Xi Jinping agreed on a 90-daytruce on further tariffs as they try to negotiate a deal.
But while the truce wasa welcome development, ADB Chief Economist Yasuyuki Sawada said "theunresolved conflict remains to be the downside risk to economic prospects inthe region."
The 2019 growth outlookfor Central Asia was raised to 4.3 percent, from the September projection of4.2 percent, the ADB said, but the forecasts for Southeast Asia and South Asiafor next year were lowered to 5.1 percent and 7.1 percent, respectively.
Lower internationalcommodity prices and central bank action to calm market volatility meansinflation in developing Asia is forecast to be 2.6 percent in 2018 and 2.7percent in 2019, down from 2.8 percent previously forecast for both this yearand next year, it said.-VNA
VNA
