ADB forecasts Vietnam’s economic growth at +5.8% in 2011 and +6.3% in 2012.

Vietnam’ economic growth is forecast to rise 5.8% in 2011 and 6.3% in 2012, the Asian Development Bank(ADB) said on its Asia Economic Monitor Report released today.

Vietnam economy is forecast to gain strong growth when its macro economy is stable, ADB mentioned in its report.

The country’s tightening monetary policy tamed its economic growth in 2011 but will push its growth in 2012. According to ADB, Vietnam gained 5.4%, 5.7%, 6.1% economic growth in the first, second and third quarter of this year due to strong growth in industrial and consumer output.

Inflation in Vietnam remained high above the country’s target. As of October, inflation over the same period last year was 19.8%. Core inflation was still high due to precious metal price hike. The country’s core inflation reached 7.7% on year by October, 2011.

ADB also predicts the growth of 7.5% in 2011 and 7.2% in 2012 for the Association of South East Asian Nations (ASEAN).

Earlier, World Bank (WB) forecast Vietnam’s GDP to rise 6.1% and CPI increase at 10.5% in 2012.

Source TEI/StoxPlus

Tags: Vietnam economic, Vietnam economic growth, Vietnam economy, Vietnam economy 2011, Vietnam GDP 2011, Vietnam GDP 2012

Posted by VBN on Dec 7 2011. Filed under Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry