Vietnam’s Financial Market Overview Report 2015 announced
(VOVworld)- Vietnam managed to rein in inflation at 0.63% and maintained relatively high economic growth in 2015. In 2016, Vietnam is expected to obtain an economic growth rate of 6.7-6.8% and the CPI of 3-3.5%. The figures were released on Monday at a seminar to announce Vietnam’s Financial Market Overview Report 2015 organized by the National Financial Supervisory Commission. According to the report, Vietnam’s financial infrastructure was strengthened with the mergers, re-arrangement, and dissolution of 11 financial institutions while transparency and risk management was improved. In 2015, nearly 800 trillion VND, equivalent to 19% of GDP, was fed into the economy through banking credits and bond issuances in the capital market.
The report points out difficulties the Vietnamese economy is facing including dependence on foreign enterprises, increasing public debt, and budget overspending. Vietnam’s economic growth is expected to increase in 2016 thanks to signed FTAs. Vietnam’s macro-economic growth will be maintained, credit organizations are likely to prosper and bad debts will be controlled at below 3%. Other challenges include fluctuating prices of materials and essential goods, and the slow growth of the agriculture, privatization, and economic restructuring.