Despite unpredictable fluctuations in the global economy, the Vietnamese economy continues to receive many positive forecasts from international financial organizations.
>> Vietnam among the five fastest growing economies in Asia
>> Vietnam among six ASEAN countries with good economic growth
| In the AEON Long Biên supermarket in Hanoi. |
| Photo: VNA/CVN |
According to forecasts from Standard Chartered Bank, Vietnam’s GDP growth in the second quarter of 2024 would reach 5.3% at an annual rate. An impressive figure, which confirms the ability of the Vietnamese economy to recover and develop after the difficulties caused by the pandemic and global economic fluctuations.
In its recent report, UOB forecasts a second quarter GDP increase of 6%. With this figure, Vietnam would rank second in the ASEAN-6 region, just behind the Philippines. This reflects the flexibility and resilience of the economy in the face of fluctuations in international markets.
HSBC is even more optimistic with growth of 6.5% in 2e quarter. With this growth rate, Vietnam could overtake the Philippines to become a leader in ASEAN.
Bloomberg’s survey shows that Vietnam’s GDP in the second quarter of 2024 could also grow by 6.5%. According to this American website, the State Bank is expected to keep the operational interest rate unchanged in the near future. This means that the charge of “put the economy back on the path to growth by attracting investors and encouraging spending” will fall heavily on the government.
For the entire year 2024, international financial organizations also make promising forecasts. The Asian Development Bank (ADB) forecasts growth of 6%. ADB experts believe that Vietnam’s policy challenge lies in the need to increase the effectiveness of public investments to boost short-term growth while ensuring long-term stability and sustainable development.
| The Nhât Tân Bridge, in Hanoi. |
| Photo: VNA/CVN |
The International Monetary Fund (IMF) predicts that Vietnam will rank 20e world rank with a growth of 5.8% in 2024. However, in the medium term, the IMF expects Vietnam to have many opportunities related to digitalization and green transition and forecasts a growth of 6.5 %.
The World Bank also made a positive forecast, with 5.5% in 2024. With this rate, Vietnam would continue to be in the first group in the world in terms of economic growth rate.
The positive forecasts of international organizations demonstrate confidence in the growth potential of the Vietnamese economy. With appropriate policies and efforts from the government, Vietnam will be able to achieve its growth targets and continue to assert its position as a bright spot in the region and the world.
CPV/VNA/CVN
