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Posts Tagged ‘5.5%’

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ASEAN could grow 5.5 percent in 2010: IMF

In Uncategorized on April 8, 2010 at 11:46 am

NHA TRANG, Vietnam, April 8, 2010 (AFP) – Economic growth across the 10-member Southeast Asian bloc could reach 5.5 percent this year, the IMF said Thursday, outpacing the global average.


“We are expecting world growth to be around four percent this year. In the ASEAN region, we are expecting growth at 5.5 percent this year,” IMF deputy managing director Naoyuki Shinohara said on the sidelines of ministerial talks.


The Association of Southeast Asian Nations collectively grew by just 1.3 percent in 2009 as it was buffeted by the global financial crisis.

Flags of Southeast Asian Nations (ASEAN) are seen flying at Hanoi’s Noi Bai international airport where ASEAN leaders keep arriving to attend the 16th ASEAN Summit on April 8, 2010. AFP photo

The region groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.


China, a key dialogue partner, is attending the finance ministers’ talks being held in the central city of Nha Trang while the group’s leaders are meeting in Hanoi from Thursday for a two-day summit.


But Shinohara said the ongoing controversy over China’s pegging of its currency had not been raised at the talks.


The United States is continuing to press for an appreciation of the Chinese yuan to stem the tide of cheap imports to its shores.

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Source: SGGP

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WB maintains its 5.5% growth forecast for Vietnam

In Uncategorized on November 5, 2009 at 10:05 am

Vietnam’s economic growth this year is likely to be 5.5 percent, the World Bank’s updated report on the East Asia-Pacific economic situation said November 4.








Workers process cashew nuts for export at Thanh Le Export Farm Produce Processing Enterprise, Binh Duong Province. Vietnam’s 2009 GDP may grow by 5.5 percent this year, said the World Bank. (Photo: Tuoi Tre) 

The report said Vietnam’s forecast growth was the same as the rate the bank projected in April.  


Vietnam has overcome the global financial and economic recession relatively well, the report said.


The bank said that positive signs of recovery have been seen in Vietnam as a result of the government’s efforts to support economic activities.

The Vietnamese government provided a stimulus package that included an interest rate subsidy, tax breaks and additional capital spending, the WB said. 

As a result, the country saw its GDP grow by 4.5 percent in the second quarter and 5.8 percent in the third.


For the January-September period, the overall GDP growth increased 4.6 percent from a year earlier, the bank said.

Asked to comment on the second stimulus package Vietnam has initiated, the bank’s chief economist for East Asia and the Pacific, Vikram Nehru, said: “The new package will not influence the WB’s forecast for Vietnam’s economic growth.“

He recommended that East Asian countries, including Vietnam, should continue to carry out economic stimulus programs.

He also advised that Vietnam should be cautious in running its fiscal and monetary policies.


Source: SGGP Bookmark & Share

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