## Vietnam: 2016 Article IV Consultation- Press Release; Staff Report; and Statement by the Executive Director for Vietnam

_IMF Staff Country Reports, July 18, 2016_

## Source details

**Canonical URL:** [Vietnam: 2016 Article IV Consultation- Press Release; Staff Report; and Statement by the Executive Director for Vietnam](https://www.imf.org/en/publications/cr/issues/2016/12/31/vietnam-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-44102)

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## Bibliographic details
- Published: July 18, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781498373890.002

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### Overview and economic context
- Vietnam’s economy experienced solid growth with low inflation, reflecting policy attention to maintaining macroeconomic stability.
- Economic performance was robust through most of 2015, driven by:
  - rapid export growth
  - foreign direct investment
  - strong domestic demand
- Manufacturing and exports moderated near year-end 2015, reflecting slowing external demand.
- Inflation dynamics:
  - Inflation declined below 1 percent in 2015
  - Inflation ticked upward in early 2016 owing to higher food and administered prices
- Outlook for 2016:
  - Growth is projected to moderate to about 6 percent, reflecting the adverse agriculture shock, lower external demand, and spillovers of tighter global financial conditions.

### Key findings and indicators
- Growth:
  - Robust through most of 2015; projected to moderate to about 6 percent in 2016.
- Inflation:
  - Declined below 1 percent in 2015.
  - Tick upward in early 2016 due to higher food and administered prices.
- Drivers of 2015 performance:
  - Rapid export growth
  - Foreign direct investment inflow
  - Strong domestic demand
- Risks to 2016 outlook:
  - Adverse agriculture shock
  - Lower external demand
  - Spillovers of tighter global financial conditions

### Thematic coverage (subjects and keywords)
- Subjects:
  - Banking
  - Credit
  - Exchange rate flexibility
  - Financial institutions
  - Foreign exchange
  - Inflation
  - Money
  - Nonperforming loans
  - Prices
  - Public debt
- Keywords:
  - core inflation
  - CR
  - Credit
  - Exchange rate flexibility
  - foreign direct investment inflow
  - Global
  - headline inflation
  - Inflation
  - ISCR
  - Mekong
  - monetary policy stance
  - Nonperforming loans
  - policy repo rate
  - prudential ratio
  - staff appraisal

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/vietnam-2016-article-iv-consultation-press-release-staff-report-and-statement-by-the-44102_