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

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.

Vietnam to be fastest-growing ASEAN economy in 2022

Vietnam is forecast to lead the fastest growing ASEAN economies in 2022, according to a recent report of the International Monetary Fund (IMF).

Growth indicators to ensure an optimistic scenario

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.

Inflation not a source of concern for Vietnam

Vietnam’s consumer price index (CPI) is set to average 2.89% in 2021, below the government’s target of 4%.

GDP growth in the first quarter of 2021 was estimated at 4.48%

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.

Vietnam’s inflation in 2021 may remain at 4%

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.

Inflation not a source of concern for Vietnam

Vietnam’s consumer price index (CPI) is set to average 2.89% in 2021, below the government’s target of 4%.
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