ADB’s forecast for Vietnam’s GDP growth popularised

The Asia Development Bank (ADB)’s forecast of 5.2 percent for Vietnam’s gross domestic product (GDP) growth this year has been briefed to authorities of the central province of Thua Thien-Hue, serving the locality’s policy-making and planning work.

Photo for illustration. danviet.vn

Photo for illustration. danviet.vn

At a conference to unveil the update of its Asian Development Outlook 2013 (ADO) report held in Hue city on October 3, ADB said growth will reach 5.5 percent in 2014 thanks to the country’s progress in solving bad debts.

The bank also forecast that faster-than-expected deceleration of food prices will curb Vietnam’s inflation to 6.5 percent in 2013. Meanwhile, the figure is likely to hit 7.2 percent next year due to money easing policies and increasing money supplies.

At the function, participants discussed the situation, prospects and orientations for Vietnam’s socio-economic development.

They also tabled proposals for the ADB to invest in Hue’s general infrastructure, preserve the city’s relic sites and biodiversity and evaluate the effectiveness of natural disaster prevention and climate resilience projects in the province.

Chairman of the provincial People’s Committee Nguyen Van Cao said that despite challenges caused by the domestic and global economic crisis, Thua Thien-Hue still maintains a high and stable economic growth. He vowed that it would increase its cooperation with the ADB over time.

Thua Thien-Hue is located on the nation’s backbone transportation route and serves as Vietnam’s gateway to the East-West Economic Corridor that connects Myanmar, Thailand, and Laos to the East Sea.
Source: VNA

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