Vietnam’s economy robust in 2019: ADB
Vietnam’s economy remained robust in 2019, with expansion underpinned by strong domestic demand, resilient manufacturing, and solid foreign direct investment, according to a report released by the Asian Development Bank (ADB) on April 3.
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| Illustrative image (Photo: VNA) |
However, the growth is forecast to decelerate significantly in 2020, with risks to the downsize as the COVID-19 pandemic unfolds, the report said.
Inflation eased to a 3-year low in 2019 but it is projected to rise moderately in 2020 and 2021. The current account surplus expanded in 2019 but will contract sharply this year.
Despite the economic deceleration and the downside risks from the COVID-19, the economic growth in Vietnam is projected to remain one of the highest in the region, the bank forecast.
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