IMF Forecasts Vietnam's Economic Growth at 8 per cent This Year
The International Monetary Fund in its annual review of the Vietnamese economy said that the country will likely enjoy economic growth rate of 8 per cent in 2006.
Vietnam will have favorable prospects in a medium term, with its WTO accession creating opportunities for growth of the country's non-oil exports and foreign direct investment, the report said.
However, the fund also warned Vietnam about its inflation rate, which is predicted to be higher than that of most Asian countries.
IMF also pointed to economic risks, including delays in reforms and a sharp slowdown in the US economy, which could reduce investors' appetite for risky assets.
Earlier, the World Bank also forecast Vietnam's GDP growth at 8 per cent in 2006 and the Asian Development Bank put it at 7.8 per cent.
Vietnam’s National Assembly during the ongoing session in Hanoi has revised the country’s economic growth rate for this year at 8.2 per cent, higher than the 8 per cent rate of the earlier plan.
(Reuters)
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