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World Bank forecasts Vietnam’s economy to grow by 6.6 pct in 2019

The World Bank predicts Vietnam’s economic growth rate would reach 6.6 percent in 2019 in its Managing Headwinds report released on April 24.
World Bank forecasts Vietnam’s economy to grow by 6.6 pct in 2019 ảnh 1A corner of District 1, Ho Chi Minh City (Source: VNA)

Hanoi (VNA) –The World Bank predicts Vietnam’s economic growth rate would reach 6.6 percentin 2019 in its Managing Headwinds report released on April 24.

The growth rate willbe driven by credit tightening, slower private consumption and weaker externaldemand.

For the medium term,the growth is projected to stay around 6.5 percent, due to the impact ofcurrent cyclical uptick dissipates, the report said, adding that poverty maydecline further as labour market conditions remain favourable.

In its report, theWorld Bank advised Vietnam to stay ready to respond to changes in the globaleconomy and to continue managing its macro-economy actively and carefully.

It forecasts growth inother developing countries in East Asia and the Pacific to soften to 6.0percent in 2019 and 2020, down from 6.3 percent in 2018.-VNA
VNA
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