PANO - Vietnam’s GDP expands by 6.2 percent in 2015 and 6.3 percent in 2016, according to the World Bank’s East Asia and Pacific Economic Update released on October 5th.

Particularly, Vietnam’s economic growth performance is being driven by its stronger output from the manufacturing sector and services, which contribute nearly half of the country’s GDP.

Photo: cpv.org.vn

Thanks to low inflation, the State Bank of Vietnam has gradually loosened monetary policy in order to speed up economic activities, and has adjusted exchange rates to ensure economic competitiveness.

However, the country’s consumer price index (CPI) in August 2015 only rose 0.61 per cent year-on-year in comparison with 4.3 per cent last year. Thus, Vietnam should continually boost the implementation of State-owned enterprise and banking sector restructuring.

Meanwhile, the East Asia-Pacific region continues gaining momentum as it makes up nearly two-fifths of the world’s economic growth. The region’s economic growth will reach 6.5 per cent this year, a slight decrease against 2014 (6.8 per cent).

Translated by Van Hieu