The report revealed that Viet Nam's economy was projected to grow at 6 per cent this year. — VNS Photo Quang Nhut

HA NOI  (Biz Hub) — Viet Nam was expected to maintain the second fastest growing economy in ASEAN-5 in 2015, according to the International Monetary Fund's latest World Economic Outlook.

According to the IMF, the trends within ASEAN would continue to diverge.

The report revealed that Viet Nam's economy was projected to grow at 6 per cent this year, after the Philippines which rose to 6.7 per cent on stronger consumption from the drop in oil prices.

Other nations in ASEAN-5, including Indonesia, Thailand and Malaysia, are forecast to grow at 5.2 per cent, 3.7 per cent and 4.8 per cent, respectively, this year.

While the GDPs of Indonesia, Thailand and Malaysia were expected to increase in 2016 to respectively 5.5 per cent, 4 per cent and 4.8 per cent, the growth of Viet Nam and the Philippines next year was forecast lower at 5.8 per cent and 6.3 per cent, respectively.

The average growth for ASEAN-5 was expected to reach 5.2 per cent this year and 5.3 per cent in 2016.

Consumer prices in Viet Nam were projected to grow at 2.5 per cent this year and 3.2 per cent next year, lower than the projections for ASEAN-5 which were at 4.1 per cent and 4.2 per cent, respectively.

For the whole Asia and Pacific region, the IMF said that growth was moderate but still outperforming other regions with Asia's growth forecast holding steady this year at 5.6 per cent and forecast at 5.5 per cent in 2016.

The IMF forecast the global growth at 3.5 per cent in 2015 and 3.8 per cent in 2016. — VNS