BMI Boosts Vietnam GDP Growth Forecast to 6% in 2010
The Business Monitor International (BMI) has raised its GDP growth forecast for Vietnam to 6% this year, up from its earlier projection of 4.4%.
The country’s economy will likely expand at an average rate of 6.2% per annum in the next five years, the BMI said in the latest report.
The BMI predicted the Southeast Asian country’s total import-export revenues to rise 5.4% and 6.2% in 2010 and 2011, respectively. The increase will be averaged at 6.5% by 2015, it said.
The global credit rating agency added that the widening trade deficit and high inflation would hit Vietnam in the coming years.
A sharp increase in inflow of foreign direct investment, meanwhile, will help the country ensure its overall balance of payments and upgrade the national infrastructure, the BMI noted.
Vietnam’s economy expanded 6.16% on-year in the first half of this year.
The Asian Development Bank (ADB) earlier said the communist party-ruled country is on track to reach the National Assembly’s GDP growth target of 6.5% this year, compared to a slow expansion of 5.32% in 2009. (VNA)
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