(CPV) - Viet Nam’s GDP growth is forecast to edge up to 6.1 percent in 2015 and 6.2 percent in 2016, with FDI an important driver, according to ADB's Asian Development Outlook 2015. Data from the Foreign Investment Agency show that new FDI commitments rose to USD15.6 billion in 2014, while an additional USD4.6 billion was committed to existing forreign-funded projects. Better economic performance in the major industrial economies – particular the US, Viet Nam’s biggest export market – will spur in the People’s Republic of China (PRC). Exports of manufactured products will continue to expand, given that 76 percent of last year’s disbursed FDI was directed into manufacturing. Factors boltering private consumption will be expanded employment, low inflation, and growth in remittances, which reached almost USD10 billion last year, retail sales jumped by 13 percent in norminal terms. Lower interest rates, rating upgrades, and brighter prospects for … [Read more...] about Viet Nam’s GDP growth is forecast to edge up to 6.2 percent in 2016
Us government expenditures 2016
(CPV) - Developing Asia will maintain its strong economic growth in 2015 and 2016 supported by soft commodity prices and recovery in the major industrial economies, says a new ADB report. ADB’s flagship annual economic publication, Asian Development Outlook 2015 (ADO), released on March 24th 2015, forecasts developing Asia will achieve gross domestic product (GDP) growth of 6.3% in both 2015 and 2016. The region also grew 6.3% in 2014. "Developing Asia is making a strong contribution to global economic growth," said ADB Chief Economist Shang-Jin Wei. "Falling commodity prices are creating space for policy makers across the region to cut costly fuel subsidies or initiate other structural reforms. This is a key opportunity to build frameworks that will support more inclusive and sustainable growth in the longer term." From the trough of the global financial crisis in 2009, developing Asia has contributed 2.3 percentage points to global GDP growth—nearly 60% of the … [Read more...] about ADB sees strong growth for developing Asia in 2015 and 2016
(VOVworld) – US President Barack Obama’s 2016 fiscal budget of nearly 4 trillion USD has ignited a row between Democratics and Republicans. The budget will be the central battle in 2015 between President Obama and the Congress, controlled by the Republican Party, highlighting for the American public the policies of each party in the coming race for the White House. President Obama’s budget plan consists of big expenditures for infrastructure, the armed forces, and research. The budget foresees a 474 billion USD deficit, which is less than 3% of the GDP, and a government debt of 75% of GDP, the highest safe level suggested by economists. Obama is calling for a 7% rise in military spending, bringing the military budget to 534 billion USD in 2016. It requests additional funding for US troops stationed in Asia-Pacific and efforts to fight Islamic State militants, strengthen cyber security, and handle problems in Eastern Europe. Priority for the middle … [Read more...] about Can the US find common ground on budget spending?
Insurance revenues seen higher than payouts in 2016 Tu Hoang By Tu Hoang - The Saigon Times Daily HANOI - The Prime Minister has issued a decision requiring Vietnam Social Insurance (VSI) to ensure insurance revenues would be higher than payouts this year to balance the social insurance fund. According to the decision announced by the Government Office on Wednesday, VSI is assigned to collect VND269.3 trillion (US$12 billion) this year. The total amount includes VND158.4 trillion for social insurance, VND66.3 trillion for health insurance, VND10.4 trillion for unemployment insurance and VND34.2 trillion profit generated from financial investments. Meanwhile, VSI is expected to spend more than VND200 trillion this year, including VND110.1 trillion on social insurance, VND7.4 trillion on unemployment insurance, VND72.7 trillion on health insurance, and VND9.9 trillion on management costs. This year, VSI’s revenues and expenditures this year are higher than last year. In 2015, … [Read more...] about Insurance revenues seen higher than payouts in 2016
THE GOVERNMENT SOCIALIST REPUBLIC OF VIET NAMIndependence - Freedom - Happiness No. 131/NQ-CP Ha Noi, December 06, 2017 RESOLUTION THE GOVERNMENT’S REGULAR MEETING – NOVEMBER 2017 THE GOVERNMENT Pursuant to the Law on Organization of the Government dated June 19, 2015; Pursuant to the Government’s Decree No. 138/2016/ND-CP dated October 01, 2016 promulgating the working regulation of the Government; Based on the discussion of the Cabinet members and the conclusion of the Prime Minister at the Government’s regular meeting in August 2017, held on August 30 DECIDES 1. Regarding the socio-economic situation in November and the first 11 months of 2017, the implementation of Resolution No. 01/NQ-CP dated January 1, 2017 The Government unanimously agreed that the socio-economic situation in November and the first 11 months of 2017 continued positive improvements. Macro-economy remained stable. Inflation was kept under control. Major … [Read more...] about The Government’s regular meeting in November 2017