Vietnam's government has coped well with the global crisis but needs to rein in its plans if it is not to overspend, a new report from the World Bank says.
The bank's 2009 gross domestic product growth forecast of 5.5 per cent is at the optimistic end of the scale but even the pessimists believe Vietnam's position as a low-cost producer, combined with an aggressive stimulus programme, will prevent it falling into recession.
Vietnam's stimulus programme, with a headline figure of 143,000bn dong ($8bn, €5.7bn, ￡4.9bn) or 8.7 per cent of 2009 GDP, is on paper proportionately one of the region's largest.
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