HANOI: Vietnam’s economic growth forecast raised 6.5percent in 2015 and 2016 in a report that revised its GDP growth forecast for Vietnam to 6.5 percent year-on-year for both 2015 and 2016, from 6.2 percent and and 6.4 percent, respectively.
The increase is attributed to a recovery of domestic demand pointed by various indicators, including the rise in industrial production and retail sales, according to a report issued by ANZ on Monday.
Industrial production posted the fastest annual gains since 2012. ANZ estimates industrial production growth of 14.2 percent year-on-year over the first two months of the year, up from 5.6 percent over the same period in 2014.
Retail sales see the fastest rise over the past 5 years, averaged at 13.7 percent in the first two months.
ANZ has also downwardly revised inflation forecasts to 2.6 percent in 2015 and 3.8 percent in 2016 from previously at 3 percent and 4.5 percent, respectively. “With a subdued inflation outlook, we see sufficient room for the central bank to further loosen monetary conditions in 2015 as growth is still below potential,” said ANZ Chief Asia-Pacific Economist Glenn Maguire.
Vietnam’s economic growth last year beat the government’s 5.8 percent target. The World Bank forecasts the country’s GDP growth at 5.6 percent in 2015.
lamic banking assets reach Rs14.47 trillion, sector share rises to 23%
KARACHI: Pakistan’s Islamic banking sector expanded during 2025, increasing its share in the country’s financial system with assets reaching nearly...
