Fitch upgrades VN rankings to BB
Fitch Ratings on May 14 upgraded Viet Nam’s long-term foreign and local currency from BB- to BB with stable prospects thanks to increases in foreign reserves and strong economic growth.
The upgrade in rankings has made Viet Nam listed in the category of high speculation, equal with Costa Rica.
The Vietnamese Government commits to limiting debts and reforming State-owned enterprises as well as enhancing to follow policy-making process.
Fitch forecasted that Viet Nam’s economy may reach an economic growth of 6.7% in 2018, becoming one of fastest-growing nations in Asia-Pacific region and highest-economies among nations ranked at BB.
The nation’s foreign reserves may increase from US$49 million in 2017 to around US$66 billion at the end of 2018 while public debt may reduce under 50% of the GDP before 2019.
source: chinhphu.vn
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