Vietnam Economy to Grow 8% in Next Five Years, IMF Forecasts
Vietnam's economy is forecast to expand 8% in the next five years, Anoop Singh, officials of the International Monetary Fund said.
Anoop Singh gave out the forecast at a press briefing on March 23 after a conference on post-crisis growth and poverty reduction that IMF, the World Bank and the Asian Development Bank co-held in Hanoi.
Anoop Singh highly valued progress made by Vietnam in poverty reduction, seeing them as major achievements of its sustainable development.
Meanwhile, John Lipsky, vice president of the IMF warned that challenges Vietnam must overcome relate to the financial market though the Southeast Asian country is listed among the most dynamic countries.
Currently, short-term loans are used for long-term investment projects, he emphasized, pledging the IMF will help Vietnam build legal and accounting frameworks to pave the way for new financial institutions to enter.
Governor Nguyen Van Giau of the State Bank of Vietnam said Vietnam’s economy expanded 6% in the first quarter, higher than the government-run General Statistics Office’s projection of 5.7% to 5.9%, nearly doubling that last year.
This year Vietnam targets GDP growth of 6.5%. (VNA)
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