ADB upgrades Viet Nam’s growth forecasts
VGP - The Asian Development Bank (ADB) has raised Viet Nam's growth forecast to 6.4 percent and 6.6 percent in 2024 and 2025, respectively, from its previous projections of 6 percent and 6.2 percent.
In its latest edition of Asian Development Outlook (ADO), the lender attributed revisions to Government's efficient economic growth impetuses.
Despite the severe impacts caused by Typhoon Yagi in various areas of the country, the Government's swift response and recovery efforts limited the impacts on growth, it stated.
The bank highlighted that accelerated public investment and accommodative fiscal and monetary policies are anticipated to further stimulate domestic demand amidst external challenges.
Earlier, the National Assembly adopted a resolution on the socio-economic development plan for 2025, targeting a gross domestic product (GDP) growth rate of 6.5-7 percent.
Earlier, international organizations also raised their economic growth forecasts for Viet Nam in 2024
Singapore-based United Overseas Bank (UOB) anticipated an expansion pace of 6.6 percent for Viet Nam's economy in 2025 in its recent report released on December 2.
In early October, the World Bank (WB) upgraded its 2024 GDP growth forecast for Viet Nam to 6.5 percent in 2024, compared to its previous prediction of 5.5 percent in the April edition.
The IMF revised up its 2024 GDP growth forecast for Viet Nam to 6.1 percent, with GDP reaching US$468.5 billion by end of this year./.
