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

13/4/21

 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.

The prediction was announced the opening session of the 2021 Spring Meetings of the IMF and the World Bank group, which is underway from April 5-11.

The country’s positive growth rate can largely be attributed to drastic economic and healthcare measures implemented by the Government.

The IMF recommended that macroeconomic policies be maintained throughout the year in an effort to ensure a sustainable and comprehensive recovery is achieved.

Meanwhile, a number of major international financial institutions have made positive assessments on the future outlook of the Vietnamese economy. The country’s economic growth rate was estimated at 7.1 percent and 6.6percent this year by the United Oversea Bank and HSBC.

An article recently published by news publication borgenmagazine.com of the United States highlights Viet Nam’s incredible economic growth since the implementation of a series of economic reforms in 1986 during the Communist Party of Viet Nam’s sixth national congress.

The article concludes by outlining how the country has run into trouble financing the North-South Expressway, although the implementation of the Public-Private Partnership Law (PPP) is expected to fix this problem by making PPPs in infrastructure projects simpler and more attractive.

Last month, the World Bank predicted that Viet Nam’s GDP growth in 2021 is set to rebound to 6.6 percent.
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All comments [ 20 ]


The free Wind 13/4/21 22:16

The World Bank has forecast Vietnam to be among the fastest growing economies in the East Asia and Pacific region with a projected growth of 6.6 percent in 2021.

Duncan 13/4/21 22:16

The growth will be based on a strong export performance and the recovery of manufacturing and services sectors

Herewecome 13/4/21 22:17

Vietnam and China are the two countries which are less affected by the Covid-19 pandemic, having deployed effective containment measures.

Egan 13/4/21 22:18

The report also states that countries that are heavily dependent on export and tourism will experience delays in economic recovery.

Kevin Evans 13/4/21 22:18

several other organizations have shown optimistic views on Vietnam’s growth in 2021.

Allforcountry 13/4/21 22:19

The Standard Chartered Bank has forecast Vietnam to grow at 7.8 percent this year, with manufacturing driving the revival.

Robinson Jones 13/4/21 22:19

The Asian Development Bank has forecast a 6.1 percent growth, the IMF, 6.5 percent, and HSBC, 7.6 percent.

Jacky Thomas 13/4/21 22:20

Vietnam’s economy will grow 6.5 percent each year over the course of the next 10 years as the Government diversifies export markets and improves infrastructure, according to market researchers Fitch Solutions.

Enda Thompson 13/4/21 22:21

newly-signed free trade agreements will help the country expand market access while avoiding any overdependence on a single trade partner.

Wilson Pit 13/4/21 22:21

Vietnam plans to prioritise the importation of machinery and high-tech equipment, it went on, adding that this requires an increase in skill levels, which may only improve slowly over the next decade.

Swift Hoodie 13/4/21 22:22

Its targets posting a budget deficit of 3.7 percent of GDP, with public debt at 47.5 percent of GDP in the next five years - less than the 65 percent limit.

John Smith 13/4/21 22:23

This is feasible given the country’s economic potential.

Gentle Moon 13/4/21 22:24

Due to the impact of COVID-19, Vietnam’s GDP grew 2.9 percent last year but it was one of only a few countries to post positive growth, which was higher than China’s 2.3 percent.

For A Peace World 13/4/21 22:24

economists from the Bank of America forecast economic growth of 9.3 percent for Vietnam in 2021 - substantially higher than the 6.8 percent projected by the World Bank.

Red Star 13/4/21 22:26

Covid-19 has brought new challenges and opportunities to Vietnam in the 2021-25 period.

Voice of people 13/4/21 22:32

In the following years of the 2021-2025 period, Vietnam's economy could not make a breakthrough because there were still existing many internal difficulties.

Socialist Society 13/4/21 22:33

In the basic scenario, the economic growth rate will reach about 6.3% per year in 2021-2025 in the context of risks of Covid-19 being present, moderate efficiency of the government’s solutions to help the economy, the prolonged world instability and the slow economic and trade growth.

LawrenceSamuels 13/4/21 22:33

In 2021, Vietnam’s economy growth is likely to be high again, which is estimated at 6.17% in the basic scenario and 6.72% in the positive situation

Me Too! 13/4/21 22:34

Being able to harness new opportunities for economic recovery in 2021 and a making breakthrough in the next five years are particularly important in order to achieve the goals set by the Party and State for the term

yobro yobro 13/4/21 22:35

It is necessary to control the pandemic, continue measures to support economic development and social security and soon deploy measures to stimulate economic rather than support

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