ADB upgrades 2022 growth forecast for Viet Nam to 7.5%

In its Asian Development Outlook 2022 December supplement released on December 14, the ADB said the Vietnamese economy is performing properly amid global uncertainties but the risks to the economic outlook have increased. 

The international lender also cut inflation rate forecast to only 3.5 percent.

Although local trade continues to expand, there are indicators of weakening global demand for the nation’s exports. Moving forward, growth for 2023 has therefore been adjusted down to 6.3 percent as major trade partners weaken.

The international bank also lowered its economic growth forecasts for developing Asia and the Pacific amid an increasingly negative global outlook.

The regional economy is therefore set to grow by 4.2 percent this year and 4.6 percent next year, slightly down from its September forecasts of 4.3 percent in 2022 and 4.9 percent in 2023.

Earlier, Standard Chartered Bank raised Viet Nam’s GDP growth forecast for 2022 to 7.5 percent higher than its August forecast of 6.7 percent.

The IMF revised up its GDP growth forecast to 7 percent in 2022./.