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

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.