ADB maintains forecast for Vietnam’s growth at 6.9 pct in 2018 hinh anh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – The Asian Development Bank (ADB) has retained its forecast for Vietnam’s economic growth at 6.9 percent in 2018 and 6.8 percent in 2019 in its new report.

In the update of its Asian Development Outlook released on December 12, the bank said inflation rate in Vietnam is expected to hit 4 percent in 2018 and 4.5 percent next year.

The bank maintained its 2018 and 2019 economic growth estimates for Asia at 6.0 percent and 5.8 percent, respectively.   

The ADB also kept its 6.6 percent and 6.3 percent growth projections for China as well as its 7.3 percent and 7.6 percent growth expectations for India for both years.

Early this month, US President Donald Trump and Chinese counterpart Xi Jinping agreed on a 90-day truce on further tariffs as they try to negotiate a deal.

But while the truce was a welcome development, ADB Chief Economist Yasuyuki Sawada said "the unresolved conflict remains to be the downside risk to economic prospects in the region."

The 2019 growth outlook for Central Asia was raised to 4.3 percent, from the September projection of 4.2 percent, the ADB said, but the forecasts for Southeast Asia and South Asia for next year were lowered to 5.1 percent and 7.1 percent, respectively.   

Lower international commodity prices and central bank action to calm market volatility means inflation in developing Asia is forecast to be 2.6 percent in 2018 and 2.7 percent in 2019, down from 2.8 percent previously forecast for both this year and next year, it said.-VNA