Vietnam’s economic growth is projected to slow down to 2.7% this year due to the novel coronavirus pandemic this year, but may pick up to 7% next year, the International Monetary Fund (IMF) said on May 11.
Vietnam's export-driven economy is heavily affected by the coronavirus pandemic, but is projected to rebound in 2021
"Some sectors are expected to be severely impacted, especially the tourism, transportation, and accommodation industries," he told Reuters.
The IMF expert said the growth is forecast to recover as containment measures are lifted, reaching 7% in 2021. It will be supported by monetary and fiscal easing, the country's relatively strong macroeconomic fundamentals, and a gradual recovery in external demand.