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IMF Forecasts VN’s Economy to Expand 6.5 pct in 2021

VGP – The International Monetary Fund (IMF) predicted that Viet Nam’s economy will expand 6.5 percent in 2021, higher than the global average of 6 percent, before climbing to 7.2% in 2022.

04/10/2021 16:36

The prediction was announced the opening session of the 2021 Spring Meetings of the IMF and the World Bank group, which is underway from April 5-11.

The country’s positive growth rate can largely be attributed to drastic economic and healthcare measures implemented by the Government.

The IMF recommended that macroeconomic policies be maintained throughout the year in an effort to ensure a sustainable and comprehensive recovery is achieved.

Meanwhile, a number of major international financial institutions have made positive assessments on the future outlook of the Vietnamese economy. The country’s economic growth rate was estimated at 7.1 percent and 6.6percent this year by the United Oversea Bank and HSBC.

An article recently published by news publication borgenmagazine.com of the United States highlights Viet Nam’s incredible economic growth since the implementation of a series of economic reforms in 1986 during the Communist Party of Viet Nam’s sixth national congress.

The article concludes by outlining how the country has run into trouble financing the North-South Expressway, although the implementation of the Public-Private Partnership Law (PPP) is expected to fix this problem by making PPPs in infrastructure projects simpler and more attractive.

Last month, the World Bank predicted that Viet Nam’s GDP growth in 2021 is set to rebound to 6.6 percent.

By Thuy Dung