Economic prospects linked to macroeconomic policies
(VOV) - Central Institute for Economic Management (CIEM) and the World Bank (WB) co-hosted a January 21 seminar in Hanoi to discuss global economic prospects in 2014 and approaches to high-income nations’ normalising economic policies.
Addressing the seminar, CIEM Deputy Director Vo Tri Thanh said 2014–2015 economic orientations should reflect macroeconomic stability, economic restructuring, and climate change amelioration.
International experts predict the global economy will gradually recover during 2014 despite slower growth in the US and European economies.
WB leading economist Andrew Burns said Asia-Pacific regional economic growth will proceed at a rate of 7.2% in 2014 before slipping back to 7.1% in 2015 and 2016.
Other economists noted economic prospects depend on both internal and external risks. If international sources of finance are suddenly tightened, regional economies will suffer repercussions.
Mr Burns said economic recovery in high-income nations will promote economic growth in developing nations. But reforms are still needed to increase labour productivity.