(VOVworld) -  Vietnam is benefiting from lower oil prices and the economic recovery of developed countries, according to the East Asia Pacific Economic Update released Monday by the World Bank (WB). The report said Vietnam’s economy has prospered because the economic growth at the end of 2014 was above expectations despite earlier difficulties. Vietnam has improved on macroeconomics indicators and reformed the business environment. The poverty rate has also decreased.

World Bank forecasts that Vietnam's economy will prosper in 2015 (photo:baophuyen)

The WB forecasts that the developing economies of East Asia will grow by 6.7% this year and this region will still account for one-third of global growth, twice the combined contribution of all other developing regions. Except for China, growth in the rest of developing East Asia is expected to rise.