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Vietnam’s economy to grow 6,5%, ADB confirms

Vietnam’s economy to grow 6,5%, ADB confirms

Hanoi, Sep 21 (Prensa Latina) Vietnam's economy will close 2022 with an estimated growth of 6,5%, according to projections of the Asian Development Bank (ADB) released in this capital.

Vietnam achieved a faster-than-expected economic recovery in the first half of the year and will continue to grow even as the global economy faces major challenges, ADB Country Director for Vietnam, Andrew Jeffries, said. Among the growing risks that the Southeast Asian nation will have to face in the future, the expert pointed out the impacts of the global economic recession on Vietnamese exports and the shortage of labor force in the fields of services and manufacturing of exportable items.

On the other hand, Jeffries added, the delay in the disbursement of public investment and social spending compared to the outlined plan, especially the slow implementation of the Government’s economic recovery and development program, could reduce the growth rate.

Another ADB economic expert quoted by VNA news agency, Nguyen Minh Cuong, said the global food supply chain has gradually recovered, helping boost the country’s agricultural output this year.

However, he noted, high input costs still held back the agricultural sector’s recovery, while declining demand in the global market slowed the growth of Vietnam’s manufacturing industry.

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