The real figure could be even higher as it is now difficult to measure the wealth of the rich, according to the Mekong Development Institute.
Dr Phung Duc Tung, head of the Mekong Development Institute, said that the high GDP growth rate that Vietnam has always been striving for will not solve all the problems in the country.
Tung said the GDP growth rate is an important index that measures the development of the economy, but it is also necessary to think about who will benefit from growth. Tiếp tục đọc “GDP growth benefits for the poor lessening: economist”
HSBC has revised its growth forecast for Vietnam this year up to 6.6 per cent, days after data from the General Statistics Office showed the economy grew 7.46 per cent in the third quarter year-on-year; its strongest third-quarter growth since 2010.
In a recent statement, the bank said that July-September growth was “surprising”. It had lowered its growth forecast from 6.4 to 6 per cent in July after the economy hit a three-year low of 5.2 per cent growth in the first quarter.
A continued rise in exports and industrial production were some of the primary drivers of growth, as the strong tech cycle in the second quarter persisted throughout the third quarter, the bank noted. Tiếp tục đọc “HSBC raises growth forecast to 6.6%”
Vietnam earlier this year received an ‘expected gift’ from PricewaterhouseCoopers (PwC). The auditing firm, one of the ‘big four’, reported that Vietnam economy ranked 32nd in the world in 2016 with GDP of $595 billion, including PPP (purchasing power parity) formula.
With the predicted average growth rate of 5.1 percent in 2016-2050, PwC believes that Vietnam would be the 20th largest economy in the world by 2050 with GDP of $3.176 trillion (in PPP), higher than that of Thailand, Malaysia, Canada and Australia. Tiếp tục đọc “The real power of Vietnam’s economy”