(VOVworld) – Vietnam’s economy has showed resilience amidst the global slowdown, according to the East Asia and Pacific Economic Update, released by the World Bank on Wednesday.

(Photo: VNA)

Economic growth in Vietnam moderated somewhat in the first three quarters of 2016, due to the impacts of a severe drought on agricultural production and slower industrial growth. But macroeconomic stability has been maintained and inflationary pressures are subdued. According to the World Bank, the outlook remains positive for the medium-term but more resolute structural, fiscal, and banking sector reforms are necessary to ease macroeconomic vulnerabilities and sustain higher mid-term growth.

The report forecasts prospects for regional developing countries over the next 3 years. But they are subject to significant growth risks and need to address their financial weaknesses.