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World bank forecasts vietnam’s GDP to reach 5.3% in 2013
The World Bank set its growth forecast for Vietnam at 5.3% in 2013, higher than5.2% of 2012. However, the bank cut its forecast for Vietnam in 2014-2015 period to 5.4%, revising its previous prediction of 5.5% for 2014 and 6% for 2015.
On June 12, World Bank updated its global economic outlook.
Vietnam’s current account balance over GDP (Gross Domestic Products) ratio is foreseen to reach 5.6% in 2013, lower than that of 5.9% in 2012 and will continue falling to 3.3% and 1% for 2014 and 2015, respectively.
The bank also said the East Asia- Pacific region’s GDP will be 7.3% this year, lower than its earlier forecast of 7.5% mainly due to slowdown growth of the China-the world’s second largest economy. The bank now expects China to grow 7.7% in 2013, down from its earlier projection of 8.4%.
It also cut the forecast for global economic growth to 2.2% in 2013, revising earlier projection figure of 2.4%.