16 June 2017

Annual report gives VN macroeconomic scenarios

Dr. Nguyen Duc Thanh, Director of the Vietnam Centre for Economic and Policy Research (Source: VNA)


Hanoi (VNA) – The Vietnam Annual Economic Report 2017 has provided two
scenarios for Vietnam’s macro economy in 2017, with inflation rate to be cut to
2.35 percent and economic growth unlikely to achieve the set target of 6.37
percent.

The report was launched in Hanoi on June
16 at a workshop co-organised by the Vietnam
Centre for Economic and Policy Research (VEPR) under the University of
Economics and Business of the Vietnam National University,
Hanoi and the Friedrich Nauman Foundation (NFN) in Vietnam.

The report also gave an overview of the global
economy and Vietnam’s annual macroeconomic issues, and policy implications.

Speaking at the workshop, NFN Director Ruediger Vincent Graichen said that the report
will actively contribute to Vietnam’s policy making process and encouraging
debate on major development issues that the national economy is facing.

Dr. Nguyen Duc Thanh, Director of the VEPR, said the report was built in the
context of economic growth slowdown and slow improvement of economic
productivity.

A resolution adopted at the 12th Party Central Committee’s fifth
plenum in May sets a target of promoting institutional reform, improving business
climate and creating favourable conditions for businesses, especially private
ones, while investors are keeping close watch on Vietnam’s determination and
ability to build an incorruptible and transparent Government in service of
people, he said.

According to statistics from the VEPR, Vietnam’s
economic growth in 2016 was not as high as expected, reaching only 6.21
percent. The inflation rate rose again, at 2.66 percent, due to increased prices
of public services and recovered goods prices in the global market.

The processing and manufacturing industry remained the main growth motivation
with an expansion of 11.9 percent.-VNA



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