Vietnam’s economic growth could reach 6.9% in 2022: CIEM

At best, Vietnam’s economic growth could reach 6.9 percent this year, according to a report by the Central Institute of Economic Management (CIEM). This is close to the Vietnamese government’s estimated gross domestic product (GDP) growth of 7% for 2022. The surplus will be around $2.7 billion.

ICES also gave a baseline scenario in which the country’s economy is expected to grow by up to 6.7 percent and inflation will reach the projected level of 4 percent. Exports will increase to 15.8% and the trade surplus will reach $1.2 billion.

Many of the factors noted by ICES that could impact Vietnam’s economic outlook in the second half of 2022 include the ability to curb the spread of new variants of COVID-19 and other diseases and the implementation of the tasks of the national program on economic recovery and development and macroeconomic stability.

In the best-case scenario, Vietnam’s economic growth could reach 6.9% this year, according to ICES. This is close to GDP growth estimated by the Vietnamese government at 7% for 2022. ICES economists have forecast Vietnam’s inflation to average 3.7%, exports to increase by up to 16, 3% and the trade surplus would be around $2.7 billion.

Other aspects, such as the ability to diversify export markets, to take advantage of the opportunities of free trade agreements to which Vietnam is a signatory and to manage the risks associated with the trade and technological confrontation between the world’s superpowers, are also critical to Vietnam’s economic progress, CIEM said at a workshop. held recently in Hanoi.

Fibre2Fashion News Office (NB)