WB: Vietnam’s economy to grow by 6.8 percent in 2018 hinh anh 1A corner of Ho Chi Minh City - the southern economic hub of Vietnam (Photo: VNA)

Hanoi (VNA) –
Vietnam's economy is forecast to expand by 6.8 percent in 2018, 6.6 percent in 2019 and 6.5 percent in 2020, according to the World Bank (WB)’s Global Economic Prospects.

Earlier in April 2018, the bank forecasted Vietnam’s economy to grow by 6.5 percent this year.

According to the bank’s latest report, growth in the East Asia and Pacific region is expected to remain solid, slowing marginally to 6.3 percent in 2018 and to an average of 6.1 percent in 2019-2020.

Conditions are mostly favourable for the region in 2018, with robust global trade, moderate borrowing costs and sustained capital inflows. 

Private consumption continues to be supported by solid consumer confidence and rising household wealth, amid mild inflation.

Regional financial markets have remained buoyant, despite volatility in early and mid-2018 related to the prospects of monetary policy tightening in advanced economies and escalating trade tensions. 

Bond spreads in some countries have increased, following volatility in stock markets, but remain close to low levels of 2017. 

Domestic monetary conditions have tightened somewhat and prudential policies have kept credit growth in check.-VNA