WB FORECASTS VIETNAM’S ECONOMIC GROWTH AT 4.8%

In the report “Review of Vietnam’s economic situation – August 2021”, released by the World Bank (WB), Vietnam’s GDP is forecasted to grow by about 4.8% for the whole year. 2021. This forecast is 2 percentage points lower than the WB’s forecast in December 2020, taking into account the negative impact of the Covid-19 epidemic on economic activities.

Vietnam’s GDP growth will gradually move towards the pre-pandemic growth rate, at 6.5-7% from 2022 onwards. This forecast is based on the assumption that the current outbreak will be gradually controlled, creating conditions for the economy to recover in the fourth quarter.

Over the past time, Vietnam’s economy has shown very good resilience and achieved solid results in the first half of 2021 with a growth rate of 5.6%, thanks to the growth of the industrial sector. Growth drivers are investment and private consumption.

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