Vietnam’s gross domestic product (GDP) growth is forecast at 5.7 percent and inflation below 10 percent this year, World Bank (WB) said in its release today.
Like other countries in Asia, Vietnam’s GDP growth is foreseen to get slowdown in 2012. However, the country is expected to reach 6.3 percent GDP growth in 2013, WB said.
The Southeast Asia country will incur state budget deficit of 6 percent of GDP this year, higher than 6.5 percent of 2011, public debt will be at stable level and the government will continue tightening fiscal policy and Vietnam belongs to groups of countries which has little risk of public debts, the report stated.
Restructuring bank system is considered to be Vietnam’s most challenging problems in coming years, WB said, adding that the country’s temporary challenge is how to maintain macroeconomic stability to restore investors’ confidence.
2011 2012 (expected) 2013 (Expected)
Gross Domestic Product Growth- GDP ( percent) 5.9 5.7 6.3
Unemployment Rate ( percent) 4.0 4.0 4.0
Consumer Price Index- CPI ( percent) 18.1 9.5 6
Public Debts ( percent GDP) 48.8 49 47.7
Foreign Direct Investment – FDI($ billion) 7.3 7.3 7.3
Foreign Debts ($ billion) 50.3 55.6 59.8