Hanoi (VNA) – Vietnam’s economic growth this year can reach up to 6.9 percent at best, the Central Institute of Economic Management (CIEM) announced at a July 15 workshop in Hanoi to launch a report on Vietnam’s economy in the first half of 2022.
It is close to the government’s forecast GDP growth of 7% for 2022.
In the best case, ICES economists predict the country’s inflation will average 3.7 percent, exports will grow 16.3 percent and the trade surplus will be around $2.7 billion, according to the report.
The base scenario calls for the economy to grow by 6.7% and inflation to reach the expected level of 4%. In addition, exports are expected to increase by 15.8% and the trade surplus to reach $1.2 billion.
ICES also highlighted several factors affecting Vietnam’s economic outlook in the second half of the year, including the ability to stem the spread of new variants of COVID-19 and other diseases, fulfillment of program tasks national socio-economic recovery and development and macro-economic stability.
Other factors, such as the ability to diversify export markets, take advantage of opportunities offered by free trade agreements Vietnam is a signatory and manages the risks associated with the trade and technological confrontation between the world’s superpowers, are also critical for the country’s growth prospects, according to ICES.
Nguyen Anh Duong, a senior CIEM official, regrets that the most important thing is to control inflation.
ICES Director Tran Thi Hong Minh said ICES recommends the government to speed up reforms while boosting post-pandemic economic recovery, with the aim of easing inflationary pressure and creating more room for business. to develop./.