VINACHEM

Vietnam’s economy is forecast to continue improving, with (GDP) to expand by 6.8 percent this year, said the World Bank (WB) in its latest economic update for Vietnam.

According to the World Bank’s Taking Stock report, released in Hanoi on June 14, the Vietnamese economic growth has been robust in recent time, accompanied by broad macroeconomic stability.

Ousmane Dione, WB Country Director for Vietnam, said the country’s impressive economic growth in 2017 and the first quarter of 2018 gives the country a firm foundation to move forward.

Sebastian Eckardt, lead economist of the WB in Vietnam, said current favourable economic conditions such as high growth and low inflation offer Vietnam a special chance to boost reform.

The report said despite improved short term prospects, risks remain significant. Domestically, slower progress in restructuring state-owned enterprises and banking sectors could adversely impact the macro-financial situation, undermine growth prospects, and create large public-sector liabilities. - VNA