Vietnam will see several opportunities arising out of digitalisation and green transformation, Srinivasan told a press conference on the release of the Regional Economic Outlook for Asia and Pacific in Washington, DC.
The IMF projects the APAC region to grow by 4.5 per cent this year, an upward revision of 0.3 percentage points relative to October. With this, Asia will contribute about 60 per cent of global growth.
Srinivasan said that promoting growth varies from country to country. In China and India, the IMF expects investment to contribute disproportionately to growth. Meanwhile, in emerging Asia outside China and India, robust private consumption will remain the main growth engine.
He suggested governments should focus on consolidation to curb the rise in public debt and rebuild fiscal buffers.
Fibre2Fashion News Desk (DS)