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.
Striving to achieve a GDP growth rate of 6.5 per cent by the end of 2021 is both a goal and a pressure for Vietnam, the outcome of which strongly depends on a further recovery of domestic purchasing power and international trade and travel.
Overcoming the negative impacts of the Covid-19 outbreak in Hai Duong and Quang Ninh provinces, economic growth in the first quarter of 2021 reached 4.48%. This is a lower level than in the operating scenario but compared to the first quarter of 2020, when the epidemic began to appear in Vietnam, this result is positive.
The prolonged COVID-19 pandemic is forecast to keep hampering Vietnam from reducing inflation this year, despite the strong efforts to stimulate fiscal and monetary policies.
