HSBC: Vietnam Economy to Grow 5.4 per cent, VN-Index to Hit 300 Points This Year
Vietnam’s economy will expand 5.4 per cent this year and will be listed among the world’s four economies with fastest growth and its main stock index, the VN-Index, will be 300 points this year, HSBC has forecast in its Asia Insight report.
HSBC said the global crisis is sweeping to Asia and currencies in the continent show signs of depreciation, but not sharp drop in values like Russian Rouble and Polish Zloty.
Asia is confronting three challenges rising foreign debts, sharp drop in current accounts, bulky banking systems and high unemployment rates, HSBC pointed out.
China’s economy will take the lead with growth rate of 7.8 per cent and unemployment rate of 6 per cent this year.
HSBC is really concerned about South Korea’s economy, and a little bit about Pakistan and Vietnamese markets.
Vietnam’s short-term external debt accounts for 29.3 per cent of its forex reserves this year, it said. (HSBC Report)
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