JavaScript is off. Please enable to view full site.

Vietnamese inflation forecast to reach 8.2%: WB

Vietnamese inflation forecast to reach 8.2%: WB

Saturday, July 13, 2013, 18:03 GMT+7

Vietnamese inflation is expected to reach 8.2 percent in the end of this year, the World Bank said in its report released Friday.

The economic growth this year is estimated at 5.3 percent, and will slightly rise to 5.4 percent in 2014, according to the report, titled An Update on Vietnam's Recent Economic Development.

“Vietnam's macroeconomic conditions continue to improve, however, without broad structural reforms, the country suffers from its longest spell of growth slowdown since late 1980s,” WB economists stated in the report.

The GDP growth of 5.25 percent the country posted last year is the lowest since 1998, according to the report.

On the regional scope, during the 2010 – 2013 period, Vietnam for the first time posted slower growth than Indonesia and the Philippines, the report said.

The WB also forecast that the Vietnamese public debt will drop from 51.5 percent of GDP in 2012 to 50.4 percent this year, and further to 50.5 percent in 2014.

The country’s current account balance meanwhile will also decline from 5.9 percent last year to 5.6 percent in 2013, and 3.3 percent in 2014, the WB predicted.

Tuoitrenews

More

Read more

;

Photos

VIDEOS

‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Latest news