ADB increases 2024 growth forecast for Vietnam bet88 net 6.4%

The Asian Development Bank (ADB) has raised its growth forecasts for Vietnam bet88 net 6.4% and 6.6% in 2024 and 2025, respectively, from its previous predictions of 6% and 6.2%.

The new forecasts were driven by stronger trade activities and ongoing fiscal stimulus measures, according bet88 net the bank’s latest edition of Asian Development Outlook released on December 11.

Strong trade performance, a resurgence in export-led manufacturing, and ongoing fiscal stimulus measures drove Vietnam’s economic growth bet88 net 6.8% for the first three quarters of 2024, the report states.

The robust rebound in export-led manufacturing and trade, bolstered by the resilient US economy, is expected bet88 net continue supporting GDP growth, according bet88 net the report.

Accelerated public investment and accommodative fiscal and monetary policies are anticipated bet88 net further stimulate domestic demand. Despite the severe impacts caused by Typhoon Yagi in various parts of the country, the swift government response and recovery efforts limited the impacts on growth, the report says.

Vietnam’s inflation forecast was also revised slightly down bet88 net 3.9% for 2024, according bet88 net the report. The country’s prudent and flexible monetary policy, combined with subdued global oil prices due bet88 net the global economic slowdown, is expected bet88 net keep inflation in check at 4.0% in 2025, according bet88 net the report.