The Asian Development Bank raises growth forecast for Viet Nam from 6.8% to 6.9% for 2019, and from 6.7% to 6.8% for 2020 In a supplement to its Asian Development Outlook 2019 Update released in September, the ADB said Viet Nam’s GDP growth in the first 3 quarters of 2019 accelerated to 7.0%, the highest rate over the same period in the past 9 years. Private consumption rose by 7.3%, and investment expanded by 7.7%, boosted by an improved business environment, continued investor confidence, and increased foreign direct investment. ADB has also trimmed its forecasts for economic growth in developing Asia this year and next year, according to its latest Update. ADB now expects gross domestic product (GDP) in the region to expand 5.2% in both 2019 and 2020, down from the September forecast of 5.4% growth this year and 5.5% next year. “While growth rates are still solid in developing Asia, persistent trade tensions have taken a toll on the region and are still the biggest risk to the longer-term economic outlook. Domestic investment is also weakening in many countries, as business sentiment has declined,” said ADB Chief Economist Mr. Yasuyuki Sawada. “Inflation, on the other hand, is ticking… Read full this story
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