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Ministry envisages two scenarios for Viet Nam’s 2022 GDP growth

VGP - Viet Nam's GDP growth may reach 8 percent for 2022 in the best-case scenario, according to the Ministry of Planning and Investment.

October 06, 2022 9:20 PM GMT+7
Two scenarios for Viet Nam’s GDP growth for 2022 - Ảnh 1.

Meanwhile, in another scenario, as the nation has to face unpredicted difficulties and obstacles, the economy may expand 7.5 percent for the whole year.

Viet Nam's GDP accelerated to 8.83 percent growth in the first nine months this year, the highest rate over the same period since 2021, the General Statistics Office reported last week.

The economy expanded 13.76 percent in the third quarter compared to 7.72 percent in the second quarter and 5.05 percent in the first quarter.

International organizations are upbeat about Viet Nam's economic prospects.

Recently, the Singapore-headquartered United Overseas Bank (UOB) has upgraded its forecast for Viet Nam's GDP growth to 8.2 percent in 2022 from the previous prediction of 7 percent.

According to the World Bank, Viet Nam's economy is expected to grow by 7.2 percent in 2022, on the back of a strong rebound in domestic demand and continued solid performance by export-oriented manufacturing.

The Asian Development Bank (ADB) has maintained its positive economic outlook for Viet Nam, with the country's GDP projected to expand 6.5 percent in 2022 and 6.7 percent in 2023.

The International Monetary Fund (IMF) has raised Viet Nam's GDP growth forecast to 7 percent this year, lifting it by a full percentage point from three months earlier and the only significant upward revision among major Asian economies.

HSBC has revised its forecast for Viet Nam's economic growth this year to 6.9 percent, from the previous prediction of 6.6 percent, which is possibly the fastest pace in the region.

Standard Chartered Bank maintained its GDP growth projection for Viet Nam at 6.7 percent for this year and 7 percent for 2023.