IMF Lifts 2015 GDP Growth Forecast for Vietnam to 6.5%

Tuan Minh

15:54 08/10/2015

BizLIVE - IMF in its latest report has raised the gross domestic product growth projection for Vietnam to 6.5% in 2015 from an estimation of 6.0% in an April report thanks to the oil price windfall and higher domestic demand.

IMF Lifts 2015 GDP Growth Forecast for Vietnam to 6.5%

IMF Managing Director Christine Lagarde. Source: linkis

Vietnam’s economic growth is forecast at 6.4% in 2016, versus an earlier projection of 5.8%, according to an International Monetary Fund (IMF) report titled “Adjusting to Lower Commodity Prices”.
Vietnam’s consumer prices are forecast to increase 2.2% in 2015 and 3.0% in 2016, little changed from projections in a report released in April, slowing down from a 4.1% expansion in 2014.
Notably, the IMF projected the country’s current account will post a surplus of 0.7% of GDP in 2015 and a deficit of 0.9% of GDP in 2016, compared to a 4.9%-GDP surplus in 2014. Meanwhile, in the April report, the fund predicted Vietnam’s current account would run a surplus of 4.8% of GDP in 2015 and 4.9% of GDP in 2016.
The World Bank and Asian Development Bank have recently revised up their GDP growth forecasts for Vietnam in 2015 and 2016.