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Vietnam's remittances to hit $13-$14 bln in 2015-cbank
January 12, 2015 / 8:37 AM / 3 years ago

Vietnam's remittances to hit $13-$14 bln in 2015-cbank

HANOI, Jan 12 (Reuters) - Vietnam is forecast to receive between $13 billion and $14 billion in overseas remittances this year, up from $12 billion in 2014, the central bank said on Monday.

Foreign exchange supply to Vietnam is also expected to be boosted from rising foreign direct investment and investment in equities, which could help lead to a surplus of $8 billion in the country’s balance of international payments, the State Bank of Vietnam said in a statement.

Remittances from Vietnamese overseas remains a key part of the country’s economy, equivalent to about 8 percent of gross domestic product. More than half of the capital comes from the United States. (Reporting by Ho Binh Minh; Editing by Martin Petty)

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