The Hanoitimes – Vietnam should make effort to take use of its young and well educated labor force, said a report of the Asian Development Bank (ADB) launched today. According to the paper, Vietnam is set to continue its strong economic performance, with GDP growth forecast to rise to 7.1% this year, before easing back to 6.8% in 2019. ADB Country Director for Vietnam Eric Sidgwick believes in the country's strong performance this year, aided by able macroeconomic management, economic growth will spurt in 2018. "Vietnam's robust economic growth will be driven by vigorous manufacturing and export expansion, rising domestic consumption, strong investment fueled by FDI and domestic enterprises, and an improving agriculture sector," he added. Illustrative photo The Asian Development Outlook (ADO) 2018 forecasts inflation to reach 3.7% on average this year, up from 3.5% in 2017, before edging up to 4.0% in 2019, as domestic demand and global commodity prices rise. Director Sidgwick noted: "A broad based increase in the government revenue effort in 2017, helped curtail the budget deficit and reduce total public debt to 61.3% of GDP by the end of 2017, from 63.6% a year earlier. This fiscal consolidation combined with moderate inflation should provide… Read full this story
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