Publicado: Jue, Abril 12, 2018
Espectáculos | Por Manuelo Venegas

ADB forecasts Vietnam's economic growth to surpass last year's decade-long high

ADB forecasts Vietnam's economic growth to surpass last year's decade-long high

ADB's senior economist Declan Magee said that they saw Mongolian economy as positive in 2018 and 2019.

The deferment of fiscal consolidation, upside risks to inflation, and expected hikes in United States interest rates in 2018 squeeze maneuvering room for policy rate cuts to stimulate growth.

"A planned doubling of public investment, notably on infrastructure and public housing, is expected to boost construction by six percent in 2018, after which expansion should slow to a more sustainable three percent in 2019 with the Southern Gas Corridor almost completed", says the report.

"The GDP growth is expected to grow by 7.0 percent in FY 2018 with continued strong consumption and public investment", he said.

Indias economic growth is expected to rebound to 7.3 per cent this fiscal and further to 7.6 per cent in 2019-20 with increased productivity post GST and investment revival due to banking reform, the Asian Development Bank (ADB) said on Wednesday.

"We expect this growth to further lift wage employment numbers, add to household incomes, and benefit more poor families across the archipelago", Bird said.

The report mentioned that the service sector will however remain buoyant given the expansion of wholesale and retail trade, financial intermediation and travel and tourism sub-sectors.

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The bank said that on average the Asian economies will grow six percent this year and five-point-nine percent next year.

Vietnam's GDP expanded by 6.81 percent previous year, the highest rate in a decade.

With economic growth gaining momentum, inflation is projected to reach 4.0 percent this year as global oil and food prices rise, and higher excise taxes on some commodities take effect. "This will require legal, regulatory and institutional reform to create a more enabling environment for doing business", it said.

In 2019, meanwhile, inflation is expected to marginally decline to 3.9 percent. "However, the risk factor for the growth is coal export, especially the transportation obstacles", he said.

Euben Paracuelles, a senior economist at the BDO Nomura Securities Inc., told Kyodo News that the brokerage firm is slightly more optimistic with its forecast for the period, noting that the region's economic growth has been stable since past year.

The report provides suggestions on ways to enhance government capacity, including strengthening coordination between government agencies and improving technical capacity of staff within these agencies, and fostering stronger partnerships between government agencies, the private sector, and development partners.

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