IMF forecasts Vietnam’s GDP to grow 6.6% in 2018

Despite facing numerous difficulties last year, Vietnam’s GDP soared 6.81%, higher than the target set by the National Assembly and the highest over the last decade as a result of the improved quality of Vietnam’s economic growth and the overall labour productivity reaching roughly 6% in 2017.

Also according to the report, the GDP growth of emerging Southeast Asian economies such as Indonesia, Malaysia, the Philippines, Thailand and Vietnam will still stand beyond 5% in 2018 and 2019.

The Government of Vietnam is destined for an economic growth of 6.7 % and an average inflation rate of 4% this year.

Most economic forecasts since early April said Vietnam’s GDP growth will be 6.5% or higher this year.

The IMF projected the Asian economy will grow at 6.5% from 2018-2019.

Earlier on April 12, in its East Asia-Pacific Economic Update released on April 12, the World Bank (WB) forecast Vietnam’s economic growth to stabilise around 6.5% this year, stressing that there are significant challenges, despite the generally favourable medium-term outlook.

The Asian Development Bank (ADB) also forecast the Vietnamese economy will rise to 7.1% this year in a new report released on April 11.