The ministry said that the economic growth in 2018 would continue to improve, fuelled by increases in manufacturing, construction, trade, banking and tourism sectors. The global economic and trade growths were also expected to be higher in 2018 than 2017, creating favourable conditions that would boost the economic growth, especially exports, the ministry said. To fulfil the growth rate target set at 6.7 per cent for the full year, the country must achieve 7.42 per cent growth rate in the second half, which is considered to be an ambitious goal. Recently, the International Monetary Fund lowered its forecast for Vietnamese economic growth to 6.3 per cent from an estimate of 6.5 per cent published in May. The Asian Development Bank maintained its growth forecast for Vietnamese economy at 6.5 per cent in 2017 and 6.7 per cent in 2018.

Source: Viet Nam News July 24, 2017 01:30 UTC