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ADB raises Vietnam's 2019 GDP growth forecast to 6.9%

Christian Fernsby |
The Asian Development Bank (ADB) raised its GDP growth forecast for Vietnam from 6.8 to 6.9 percent.

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Topics: ADB    VIETNAM    GDP   

Vietnam will maintain stable economic growth of 6.9 percent in 2019 despite tensions and fluctuations in regional and global trade, the entity predicted in its Asia Development Outlook.

The bank also increased its 2020 GDP growth forecasts for Vietnam from 6.7 to 6.8 percent.

In contrast, ADB cut its GDP in developing Asia forecast from growth of 5.2 percent in 2019 and 2020, down from the September forecast of 5.4 percent growth this year and 5.5 percent next year.

According to a recent report by the influential British firm Oxford Economics, the predictable or at least possible escalation of US-China trade tensions will be felt across Southeast Asia, where the economy will grow by just 4.5 percent in 2020.

In mid-November, on approving the Vietnam economic-social development program for next year, the National Assembly noted that it was drafted based on forecast GDP growth of 6.8 percent.

The corresponding resolution established several specific goals, including matching or exceeding that growth in 2020, which would maintain the Vietnamese economy as one of the most dynamic and healthy in the region and the world.

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