VINACHEM

The Vietnamese economy is expected to expand by 6.7% in 2018, according to an estimate by the Ministry of Planning and Investment (MPI).

Manufacturing activity is the main driver of the Vietnamese economy.

At a conference on September 24, MPI Minister Nguyen Chi Dung said that there were many bright spots in the economic picture over the first three quarters of the year and macroeconomic stability has been maintained to create the foundation for restructuring.

He added that inflation for the whole year would be contained at less than 4% while budget revenues are expected to reach VND1.3 quadrillion (US$55.9 billion), up 3% compared to the target figure.

The spending deficit is projected to reach 3.67%, below the National Assembly’s target of 3.7%.

According to Minister Dung, growth continues to be driven by all sectors, with manufacturing activity playing a key role.

The Vietnamese economy grew by 7.08% in the first half of 2018 and the figure for the third quarter is scheduled to be announced on September 29. - VNN -