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Vietnam’s economy in 2017 - 2018: Growth on an efficient and sustainable foundation

Nguyen Van Luan 1, *
  1. University of Economics and Law, VNUHCM, Viet Nam
Correspondence to: Nguyen Van Luan, University of Economics and Law, VNUHCM, Viet Nam. Email: [email protected].
Volume & Issue: Vol. 2 No. 1 (2018) | Page No.: 5-11 | DOI: 10.32508/stdjelm.v2i1.496
Published: 2018-12-28

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This article is published with open access by Viet Nam National University Ho Chi Minh City, Viet Nam. This article is distributed under the terms of the Creative Commons Attribution License (CC-BY 4.0) which permits any use, distribution, and reproduction in any medium, provided the original author(s) and the source are credited. 

Abstract

2017 is the first time after many years that Vietnam met and exceeded 13 social-economic indicators. Vietnam’s economy experienced a high economic growth rate, stable and sustainable macroeconomic environment. GDP growth is 6.81% (target 6.7%), CPI 3.53% (target (4%), credit growth 18,1%, and FDI of 36 billion USD. Import-export turnovers remain a significant achievement and has been maintained at a high level. Early results from restructuring of state-own enterprises signal a successful restructuring. These positive indicators provide impetus for the Vietnam’s economy in 2018. The targets in 2018 include maintaining a stable macro-economic environment, achieving a 6.7% GDP growth, focusing on growth quality and sustainability, 4% CPI, 3.7% state budget deficit, 63.9% public debt, 8-10% increase in export turnover against 2017, less than 3% trade deficit and a ratio of government investment to GDP at 34%. To successfully achieve 2018 economic indicators, it is necessary to strongly apply policies and solutions for a creative and innovative system, develop science and technology nationwide and in every industry. This is to create breakthrough for the changes of the structure and growth model.

 

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