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Asian Development Bank confident Vietnam’s economy will recover

Hanoi, Apr 7 (Prensa Latina) the Asian Development Bank issued a report on the economic outlook for the region, putting the forecast for the growth of Vietnam's Gross Domestic Product in 2022 at 6.5 percent.

The institution’s director Andrew Jeffries mentioned the proven resilience of Vietnam’s economy and the high vaccination rate against Covid-19 as auspicious signs.

In 2020, the Vietnamese GDP only grew 2.91 percent and fell to 2.58 in 2021, but increased by just over 5.0 percent in the first quarter of 2022.

Several sectors showed an appreciable improvement -particularly those that make up agriculture, forestry and aquaculture- while others such as the manufacturing, construction, services and exports industry show signs of recovery amid the easing of measures aimed at the pandemic.

Jeffries considered that the economy of Vietnam will fully recover this year and will experience a 6.7 percent rise next year.

Other regional and international organizations estimate that in 2022 Vietnam’s GDP will grow above 5.0 percent due to its flexible response to the pandemic and a better global scenario.

In the decade before the Covid-19 outbreak, Vietnam’s economy grew more than six percent, one of the highest worldwide.