World Bank forecasts Vietnam’s economy to grow by 6.6 pct in 2019

The World Bank predicts Vietnam’s economic growth rate would reach 6.6 percent in 2019 in its Managing Headwinds report released on April 24.

The growth rate will be driven by credit tightening, slower private consumption and weaker external demand.

For the medium term, the growth is projected to stay around 6.5 percent, due to the impact of current cyclical uptick dissipates, the report said, adding that poverty may decline further as labour market conditions remain favourable.

In its report, the World Bank advised Vietnam to stay ready to respond to changes in the global economy and to continue managing its macro-economy actively and carefully.

It forecasts growth in other developing countries in East Asia and the Pacific to soften to 6.0 percent in 2019 and 2020, down from 6.3 percent in 2018.-VNA