Forecasts by financial institutions and the world’s top credit rating agencies of Vietnam’s economic growth are well-founded, said Russia’s Sputnik radio. The World Bank, the International Monetary Fund, Moody’s, Fitch, Standard & Poor’s, Singapore’s United Overseas Bank, and the UK’s Standard Chartered Bank all offered optimistic views of the Vietnamese economy amid the dull economic landscape around the world, it noted.

The Asia Economic Outlook released by the IMF on Tuesday forecast that Vietnam’s gross domestic product will grow 7% this year. With a third of the world’s economies predicted to contract, this growth is something of a miracle.

Moody’s predicted 8.5% growth this year. In September, Moody’s Investors Service upgraded Vietnam’s long-term issuer and senior unsecured ratings from Ba3 to Ba2 and changed the outlook from positive to stable, reflecting the Vietnamese economy’s growing strength and resilience to external macroeconomic shocks.

Source: VOV5