Vietnam Gdp

The World Bank expected Vietnam's growth prospects to improve thanks to a recovery in exports, tourism, consumption, and investment.

The Government's best-case growth scenario for 2024 is 6.5-7%, higher than the goals set by the National Assembly and forecasts by international organizations.

Vietnam remains on the path of recovery driven by the turnaround in the global electronics cycle.

Fiscal policy also supports economic growth in 2024 amid expected significant public sector wage increases and ongoing efforts to boost public investment.

The housing market, like the economy, has shown positive recovery signs month after month, but difficulties are still present.

In 2024, amid subdued global demand and ongoing geopolitical tensions, Vietnam's export-led growth faces challenges in full recovery. To counter this, proactive domestic policies are needed to stimulate demand and improve the business climate.

Lower-than-expected growth in advanced economies and China could reduce external demand for Vietnamese exports.

Fiscal policy can have a greater role in support of economic growth and the poorest and most vulnerable.

Given the adverse global environment, achieving 6.5% GDP growth this year would be challenging for Vietnam.

Vietnam's foreign reserves could reach $102 billion by year's end.