ADB raises growth forecasts for Vietnam in 2019 and 2020
The Asian Development Bank (ADB) has revised up its growth forecasts for Vietnam from 6.8 percent to 6.9 percent for 2019 and from 6.7 percent to 6.8 percent for 2020.
This is in contrast to Asia, for which it trimmed its forecast by 0.2 percentage points to 5.2 percent this year, due to persistent trade tensions and weakening domestic investment.
Vietnam achieved "unexpectedly strong" growth momentum in the third quarter, which could carry over into Q4, the ADB said.
Its GDP grew by 7.3 percent in Q3, dragging up the rate for the year-to-date to 7 percent, the highest for the period in the last nine years./.
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