ADB maintains Vietnam's growth forecast at 6.5%

DNHN - The Asian Development Bank (ADB) has just announced that it still maintains its growth forecast for Vietnam at 6.5% in 2022 and 6.7% in 2023 as previously published in the Asian Development Outlook (ADO) April 2022.

In the supplementary edition of the Asian Development Outlook (ADO) 2022 published on July 21, ADB said that developing Asia and the Pacific are continuing to recover from the COVID-19 pandemic. Many countries are easing travel restrictions, helping to boost economic activity.

However, growth slowed in China, the region's largest economy, due to disruptions caused by new COVID-19 lockdowns, as well as weakening global demand.

China's economy is forecast to grow 4% this year, up from 5% previously forecast. ADB also downgraded India's growth outlook from 7.5% to 7.2% amid higher-than-expected inflation and monetary tightening.

For 2023, ADB lowered its economic growth forecast for the region from 5.3% to 5.2%, while raising its inflation forecast from 3.1% to 3.5%.

For Vietnam, ADB maintains its growth forecast at 6.5% in 2022 and 6.7% in 2023, as published in the April 2022 ADO.

According to ADB, Vietnam's growth will continue to be driven by the expansion of trade activities, the faster and stronger than expected recovery of the manufacturing sector and the situation of domestic travel has also been promoted; as well as the disbursement rate of public investment capital tends to be improved.

TH