Vietnam’s economic growth forecast at 6.14% in Q3

08:38 | 05/08/2016 Economy- Society

Vietnam is predicted to see an economic growth rate of 6.14% and an export growth of 6.8% in the third quarter of 2016, according to the Vietnam Economic Report for the second quarter of the year.

Vietnam’s economic growth forecast at 6.14% in Q3

The national economy is predicted to grow 6.14% in the third quarter of 2016

The report, which was published by the Central Institute for Economic Management (CIEM) at a workshop in Hanoi on July 26, updated and analysed the macroeconomic performance in Q2 and in the first six months.

It also evaluated the macroeconomic outlook for the next three months and suggested some orientations regarding renovation of the microeconomic foundation and macroeconomic regulation in Q3 and the year’s latter half.

Addressing the event, Dr. Nguyen Dinh Cung, President of CIEM, stated that the second quarter witnessed the first transfer steps of the government apparatus, with the government initially delivering an array of messages on creating a more predictable policy environment and encouraging and fostering the business spirit to stimulate economic growth.

In addition to evaluations about real economic developments and important components of the macroeconomy, the report analysed the challenges in joining the ASEAN Economic Community and focused on clarifying difficulties and challenges in establishing specialised agencies performing the functions of state owners. The issues relating to mitigation of the foreign direction investment (FDI)’s environmental impacts were also mentioned in the report.

Dr. Le Dang Doanh, an economic expert, highlighted the need to research renovation plans and programmes which are basically synchronised with the macroeconomic stabilisation goal and economic reform policies. He suggested CIEM ask for the government’s permission to soon build a macroeconomic stabilisation scheme.

According to Dr. Nguyen Dinh Cung, instead of boosting economic growth at any cost, the government should be persistent with the envisaged priorities concerning microeconomic renovation and preservation and enhancement of the regulation space for macroeconomic policies./.

 

Source: NDO

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