At the event (Source: VNA) Speakingat an event in Hanoi on July 13 to announce the WB’s update on Vietnam’s recenteconomic development, chief economist Sebastian Eckardt, Acting CountryDirector of the WB in Vietnam said the economy is still resilient thanks tostronger domestic demand and improving manufacturing and engineering.
Accordingto the report, Vietnam’s medium-term economic outlook will be optimistic withan estimated growth of 6.3 percent this year. Inflation will be stable on theback of low prices of food and energy.
From2018-2019, the growth is expected to hit 6.4 percent.
Thereport urges Vietnam to continue taking cautious approach to steering the macro-economyby reducing overspending to curb increasing risks regarding budget sustainabilityand create fiscal space against potential shocks in the future.
Vietnamneeds to continue improving risk evaluation and monitoring capital safety tominimise arising risks amid credit extension, it said, adding that thecountry’s challenge is still how to sustainably maintain high growth andpoverty reduction, it says.
Barriersto the restructuring of State-owned enterprises and business climate improvementwill continue to be removed.
Thereport also features a special topic entitled “Towards strengtheninghigh-quality financing” with a number of recommendations.-VNA
VNA
