Chủ đề: GDP growth

Forum hears that while Vietnam is expected to maintain GDP growth there will be obstacles along the way.

Economy expected to recover quickly in 2022.

GDP growth reached only 2.58 per cent in 2021, with the agriculture, forestry, and fisheries sector and the industry and construction sector being pillars of the economy, growing 2.9 per cent and 4.05 per cent, respectively. Medical and social aid, banking, finance and insurance, and information and communication also saw relatively good growth.

Covid-19 has created huge economic losses for Vietnam, estimated at $24 billion, or 7 per cent of GDP. The damage to Ho Chi Minh City’s economy has been put at about $12 billion.

Negative GDP growth in the third quarter has resulted in revised forecasts for growth in the year as a whole.

Based on macro-economic indices, many experts and associations have predicted that GDP growth may be negative in the third quarter. The impact will only be short term, however, because production and business activities will soon recover.

Rong Viet Securities (VDSC) expects that credit growth will slow further due to Covid-19. If GDP growth is negative in the third quarter, the State Bank of Vietnam (SBV) may continue to cut the operating interest rate.