A new World Bank report projects GDP growth in Vietnam to risemodestly to 5.5 percent by 2015, with macroeconomic stability largelyrestored.
“The Taking Stock” , launched in Hanoion December 2, also says that the medium-term macroeconomic outlookremains favourable on balance.
“Vietnam has done wellin ensuring macroeconomic stability over the past year, which has beenunderpinned by moderating inflation and strengthening externalaccounts,” said Victoria Kwakwa, the World Bank’s Country Director forVietnam.
The report, a biannual assessment ofVietnam ’s economy, identifies several critical risks to macro-economicstability, including low foreign exchange reserves, fragile privatesector demand, possibility of departure from fiscal and monetarydiscipline, slow progress on structural reforms, and loss of confidencein a fragile banking sector.
It also looks at threespecial topics, namely trade facilitation, competitiveness and growth inVietnam; corruption and economic growth in Vietnam ; and poverty andinequality in Vietnam.
Based on preliminaryanalysis that draws on the latest survey data, the report finds thewelfare of most Vietnamese improved substantially over 2010-12, evenwhile growth was more modest than previously. This generated a drop inthe poverty rate, and likely a decrease in inequality. Ethnic minoritywelfare has improved greatly over time.
However,poverty still remains concentrated among these groups. The reportsuggests that the observed pathways out of poverty for the ethnicminorities are similar to those of the majority group.
The process would involve moving to cash crop production, intensifyingagricultural production, moving to agricultural diversification and/ortrading and services, and investing in education for children.-VNA
“The Taking Stock” , launched in Hanoion December 2, also says that the medium-term macroeconomic outlookremains favourable on balance.
“Vietnam has done wellin ensuring macroeconomic stability over the past year, which has beenunderpinned by moderating inflation and strengthening externalaccounts,” said Victoria Kwakwa, the World Bank’s Country Director forVietnam.
The report, a biannual assessment ofVietnam ’s economy, identifies several critical risks to macro-economicstability, including low foreign exchange reserves, fragile privatesector demand, possibility of departure from fiscal and monetarydiscipline, slow progress on structural reforms, and loss of confidencein a fragile banking sector.
It also looks at threespecial topics, namely trade facilitation, competitiveness and growth inVietnam; corruption and economic growth in Vietnam ; and poverty andinequality in Vietnam.
Based on preliminaryanalysis that draws on the latest survey data, the report finds thewelfare of most Vietnamese improved substantially over 2010-12, evenwhile growth was more modest than previously. This generated a drop inthe poverty rate, and likely a decrease in inequality. Ethnic minoritywelfare has improved greatly over time.
However,poverty still remains concentrated among these groups. The reportsuggests that the observed pathways out of poverty for the ethnicminorities are similar to those of the majority group.
The process would involve moving to cash crop production, intensifyingagricultural production, moving to agricultural diversification and/ortrading and services, and investing in education for children.-VNA
