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Financial News: IMF: Vietnam's Strong Economic Momentum To Continue

IMF: Vietnam's Strong Economic Momentum To Continue

07/11/2018 - 03:12:00 (RTTNews)

(RTTNews) - Vietnam's strong economic momentum is expected to continue in 2018, aided by the reform drive, higher potential output, the global recovery, and commitment to macroeconomic and financial stability, the International Monetary Fund said Tuesday.

Concluding the Article IV Consultation with Vietnam, the Executive Board of IMF said despite a mild tightening in credit growth targets and a neutral fiscal stance, the economy is set to expand 6.6 percent in 2018.

Inflation is forecast to rise to just under the 4 percent target, led by higher oil prices and gradual increases in administered prices.

However, the board cautioned that financial buffers are still thin, macroeconomic policy frameworks remain inflexible, complicating the management of shocks. The strong economy provides an opportunity for more ambitious reforms, the IMF observed.

Further, the board called for monetary policy tightening in order to sustain macroeconomic stability.

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