The NationalFinancial Supervisory Committee (NFSC) last week released the latestforecasts for the economy in the 2014-15 period, showing that the FDIwould see a high growth rate because of world economic improvement.
The World Bank earlier predicted that the world economy would have agrowth rate of 3 percent and 3.3 percent in 2014 and 2015 respectively,much higher than 2.2 percent this year.
In addition, thecommittee said FDI attractions would be higher as the Trans-PacificPartnership Agreement (TPP) would be signed in 2015.
It addedthat domestic private investment would also be improved becausesupporting policies will be brought into play in the next few years,while solutions to restructure the banking sector and resolve bad debtswould upgrade the financial system.
Exports are forecast tocontinue at a high growth rate due to FDI projects, and would bemomentum for the economy, the NFSC said.
However, the committeesaid the economy would be challenged by risks of public debt in Europeand decreasing growth in China and India.
Domesticenterprises would still face difficulties, especially in theagricultural sector. The State budget balance would be limited, causingcapital shortage for development.
It also said Vietnam’seconomy is expected to grow by 5.6-5.8 percent and 6.0-6.2 percent for2014 and 2015, respectively.
The NFSC said total socialinvestment capital would have to reach 30-31 percent of GDP in 2014and 2015; credit growth at 15 percent and exports at 12-14 percent in2014 and 13-15 percent in 2015, in order to achieve the above mentionedGDP growth rate.
The committee also sees inflation of around 7percent in 2014 and to fall to 6.5 percent in 2015. Its forecast forthis year’s GDP growth is 5.3 percent.
The outlook is givenbased on business and operation results in the first eight months ofthis year and forecasts about the global economic situation given bycredit institutions worldwide.-VNA