Optimistic forecast for Vietnam’s economy in 2022
Illustrative image (Photo: VNA)
Vietnam’s economic growth this year can reach up to 6.9% in the best-case scenario, the Central Institute for Economic Management (CIEM) announced during a recent Hanoi workshop to launch a report on Vietnam’s economy in the first half of 2022.
It is close to the government’s projected GDP growth of 7% for 2022.
In the best-case scenario, CIEM economists forecast the country’s inflation will average 3.7%, exports grow 16.3% and trade surplus stands around 2.7 billion USD, the report said.
The base scenario anticipates the economy to expand 6.7% and inflation to hit the expected level of 4%. Additionally, exports will be likely to rise 15.8% and trade surplus to total 1.2 billion USD.
The CIEM also outlined several factors affecting Vietnam’s economic outlook in the second half of the year, which include the ability to stem the spread of new COVID-19 variants and other diseases, the fulfillment of tasks of the national programme on socio-economic recovery and development, and macro-economic stability.
Illustrative image (Photo: VNA)
Other factors, such as the ability to persify export markets, capitalize on opportunities from free trade agreements Vietnam is signatory to, and handle risks associated with trade and technology confrontation between the world’s superpowers, are also critical to the country’s growth prospect, according to the CIEM./.
Related News
How does the Fed's interest rate cut affect Vietnam?
11:56 | 05/10/2024 Headlines
Important step to soon upgrade stock market
10:21 | 03/10/2024 Finance
Risks for the economy when cash flow has not yet been put in to production and business
10:49 | 07/10/2024 Headlines
Vietnam still primarily relies on processing and manufacturing with limited automation integration
08:22 | 01/10/2024 Import-Export
Latest News
PM arrives in Laos for 44th, 45th ASEAN Summits
13:46 | 08/10/2024 Headlines
Timely decisions will bring about many innovations
10:15 | 08/10/2024 Headlines
Vietnam, Tunisia promote trade cooperation
14:25 | 07/10/2024 Headlines
Vietnam welcomes over 12.7 million foreign tourists in nine months
14:21 | 07/10/2024 Headlines
More News
Prime Minister presides over Cabinet’s regular meeting
14:20 | 07/10/2024 Headlines
Vietnam suggests ways to promote multilateralism at Francophonie Summit
16:33 | 06/10/2024 Headlines
Top leader meets with Vietnamese community in France
16:31 | 06/10/2024 Headlines
Standardising fruit quality can open up new markets for Vietnam: Insiders
16:28 | 06/10/2024 Headlines
Support policies needed for businesses to recover after the super typhoon No. 3
09:24 | 06/10/2024 Headlines
Top leader's visit to create momentum for lifting Vietnam - France strategic partnership: Ambassador
19:34 | 05/10/2024 Headlines
Vietnam, France boost cooperation in public services, administrative modernisation
19:29 | 05/10/2024 Headlines
Vietnam’s FDI attraction wins big
13:36 | 04/10/2024 Headlines
Irish President's speech at state dinner in honour of top Vietnamese leader
14:19 | 03/10/2024 Headlines
Your care
PM arrives in Laos for 44th, 45th ASEAN Summits
13:46 | 08/10/2024 Headlines
Timely decisions will bring about many innovations
10:15 | 08/10/2024 Headlines
Vietnam, Tunisia promote trade cooperation
14:25 | 07/10/2024 Headlines
Vietnam welcomes over 12.7 million foreign tourists in nine months
14:21 | 07/10/2024 Headlines
Prime Minister presides over Cabinet’s regular meeting
14:20 | 07/10/2024 Headlines