Vietnam Bucks Asia's Weakening Growth Trend
September 6, 2022
Vietnam’s upbeat growth outlook is bucking the slowing trend elsewhere in Asia, with relatively subdued inflation that’s also an exception to the general rule in the region.
The first half of this year saw a swift economic rebound as Vietnam’s pandemic restrictions eased following the adoption of a living-with-COVID strategy and a robust vaccination drive.
Supportive policies such as low interest rates, strong credit growth, and the government’s Program for Socioeconomic Recovery and Development have been accompanied by strong manufacturing output and a recovery in retail and tourism activity.
Accordingly, we recently raised our Vietnam growth forecast to 7 percent this year, lifting it by a full percentage point from three months earlierand the only significant upward revision among major Asian economies.
Source: https://www.imf.org/en/News/Articles/2022/08/26/CF-Vietnam-bucks-Asias-Downbeat-Growth
