Gdp Growth

The Government is expected to soon issue an overall economic recovery plan, which serves as the basis for localities to carry out their own push for economic development.

Public investment, exports, and domestic consumption continue would be the three key factors for Vietnam’s economy this year.

With science, technology, and innovation as driving forces for growth, Vietnam aims for GDP growth for the next five years to exceed that of 2016-2020.

Vietnam remains on track to be the fastest-growing economy in Southeast Asia.

Vietnam’s economic prospects in the remaining months of the year would depend on the country’s efforts in ending the current Covid-19 outbreak.

For the first six months of the year, Vietnam’s GDP growth is estimated at 5.8%, lower than the government’s expectation of 6.22%.

Faster execution of vaccination program would be the key factor ensuring Vietnam’s strong economic performance in the medium term.

A GDP growth of 5.8% in 2021, nearly double the 2.9% growth last year, would boost credit demand.

Easing monetary and fiscal policies in combination with institutional reforms are the way for Vietnam to ensure sustainable and rapid economic growth amid global uncertainties.

In case the US can fully disburse the entire US$1.9-trillion stimulus package, Vietnam’s GDP could expand by an addition of 0.76 percentage points.