ANZ: Brighter GDP growth in 2014 for Vietnam
Vietnam’s gross domestic product (GDP) will fall short of its potential
this year but will improve in 2014, according to the Australia-New
Zealand Banking Group (ANZ).
Vietnam’s gross domestic product (GDP) will fall short of its potential
this year but will improve in 2014, according to the Australia-New
Zealand Banking Group (ANZ).
To return to its potential level of 7 percent, the bank recommended the country speed up the restructuring of commercial banks and State-owned enterprises.
Vietnam will register 5.1 percent GDP growth in 2013 and 5.25 percent next year, it said.
Inflation is expected to close between 6 and 8 percent this year while weak domestic demand will keep the consumer price index at a medium level.
The bank commented that the Vietnamese currency will exchange at 21,500 per USD by mid-2014, compared to the current rate of 21,150.
Dr Le Xuan Nghia, former chairman of the National Financial Supervision Committee, said that the country this year will obtain a growth rate of 5.3 percent and keep inflation at 7.6 percent while enjoying an increase of 15 percent in exports and an 11 percent credit growth.
He forecast that economic growth will climb up to 5.7 percent thanks to increasing investment, while inflation will be up 7 to percent, exports will soar 19 percent and credit growth will rise 14 percent.-VNA
To return to its potential level of 7 percent, the bank recommended the country speed up the restructuring of commercial banks and State-owned enterprises.
Vietnam will register 5.1 percent GDP growth in 2013 and 5.25 percent next year, it said.
Inflation is expected to close between 6 and 8 percent this year while weak domestic demand will keep the consumer price index at a medium level.
The bank commented that the Vietnamese currency will exchange at 21,500 per USD by mid-2014, compared to the current rate of 21,150.
Dr Le Xuan Nghia, former chairman of the National Financial Supervision Committee, said that the country this year will obtain a growth rate of 5.3 percent and keep inflation at 7.6 percent while enjoying an increase of 15 percent in exports and an 11 percent credit growth.
He forecast that economic growth will climb up to 5.7 percent thanks to increasing investment, while inflation will be up 7 to percent, exports will soar 19 percent and credit growth will rise 14 percent.-VNA
You should also see
Cuban leaders appreciate Vietnam’s support, call for more investment
Deputy Prime Minister Tran Luu Quang had a meeting with First Secretary of the Communist Party of Cuba Central Committee and President of Cuba Miguel Diaz-Canel in Havana on April 15.
See more
Business
US dollar continues gaining against Vietnamese dong, hitting exchange ceiling
The US dollar has continued to strengthen against the Vietnamese dong (VND) as the exchange rate hit the ceiling limit across commercial banks on April 16 morning.
Business
Tra Vinh exports organic coconut flower nectar to Australia
The Tra Vinh Farm Co., Ltd (Sokfarm) in the Mekong Delta province of Tra Vinh has successfully exported its first shipment of organic coconut flower nectar products to Australia - the fifth main importer of the locality’s product.
Business
Real estate market thrives, entities ready to re-enter market
The real estate market has witnessed positive developments, with a slew of projects, including billion-dollar projects, being announced and called for investment in the first quarter of 2024.
Business
Garment & textile sector tries to keep growth momentum
The Vietnamese garment and textile sector is carrying out various measures to bolster production and business activities amidst formidable challenges posed by falling demand, high inventory, and geopolitical instability in several countries, according to insiders.
Business
Central bank to resume gold bar bidding after 11 years
The State Bank of Vietnam (SBV) will resume gold bar bidding after 11 years, aiming to increase the supply of gold to the market, promptly and immediately settle the high difference in domestic and international gold prices, thus ensuring the gold market operates in a safe and stable, healthy, open, transparent and effective manner in accordance with the Prime Minister's direction.
