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Encouraging growth forecasts for Vietnam’s economy

Vietnam, economía, pronósticos
Hanoi, Jul 21 (Prensa Latina) The growth forecasts for Vietnam's economy in 2022 is encouraging and point to a year-on-year increase of more than six percent in the Gross Domestic Product (GDP), the Nhan Dan newspaper reported on Thursday.

The daily quotes a report by the Asian Development Bank (ADB) confirming that it maintains its development forecast at 6.5 percent for this year and 6.7 percent for 2023, as a previous report released in April.

Vietnam’s growth will continue to be driven by the expansion of business activities, the faster and stronger-than-expected recovery of the manufacturing sector and the rise in domestic travel, as well as the disbursement rate of public investment capital, the ADB indicated.

The country’s abundant food supply will also help control the increased price, even though rising commodity prices on the world market, especially oil prices, are leading to inflationary pressures.

Slightly more cautious, earlier this year, the World Bank stated that Vietnam’s economic recovery will accelerate this year, with a year-on-year GDP growth of 5.5 percent, and indicated that the greening of the trade sector should be a priority for this nation.

During the report of the first half of 2022, the General Statistics Office released that the Vietnamese GDP was estimated to increase 7.72 percent year-on-year in the second quarter of this year, the highest recorded in the last decade, while growth was 6.42 percentage points between January and June.