Economy may expand 6.7-6.8 percent in 2016

TCCT Vietnam’s economy may grow 6.7-6.8 percent next year, according to the National Financial Supervisory Commission (NFSC).

The total social investment is expected to account for 31 percent of the GDP thanks to the world’s higher economic growth, domestic sustainable macro-economy and opportunities from completing the Trans-Pacific Partnership (TPP) negotiations, the Vietnam Government Portal quoted the commission as saying.

In addition, measures to restructure the banking system and deal with bad debt will help strengthen the financial system and increase the credit supply for private sector.

Exports will achieve higher growth rate compared to 2015 thanks to number of free trade agreements taking effect in 2016, expanding markets for such key commodities as garment, footwear, agricultural-forestry-aquatic products.

The laws and measures designed to further improve the business environment will help promote the capacity of the economy.
The NFSC forecasts inflation rate may be around 2-3 percent in 2016 and the trade deficit may increase to 4 billion USD in comparison with 3.2 billion USD in 2015./.

Source: VNA