Forecasts on Vietnam’s economic growth grounded: Sputnik
Illustrative image (Photo: VNA)
Financial institutions and the world’s top credit rating agencies’ forecasts on Vietnam’s economic growth are completely founded, said Russia’s Sputnik radio.
The World Bank, International Monetary Fund, Moody’s, Fitch, Standard & Poor's, Singapore’s United Overseas Bank (UOB) or the UK’s Standard Chartered Bank offered optimistic opinions about the Vietnamese economy amid the dull economic landscape all over the world.
In the Asia Economic Outlook released by the IMF on October 11, Vietnam’s gross domestic product is forecast to grow by 7% this year. While one-third of the world economies are predicted to contract, this growth is considered a miracle.
Though the WB revised down Vietnam’s economic growth to 7.2% from 7.5%, it highlighted that the figure remains high amid the global slowdown.
The lender attributed that to the country’s strong recovery and solid manufacturing and processing activities.
Meanwhile, Standard Chartered upgraded Vietnam’s growth outlook to 7.5% from 6.7%, saying that the figure could reach 7-7.2% next year.
The UOB offered a prediction of 8.2% growth this year while Moody’s was the most optimistic with 8.5%.
In September, Moody’s Investors Service upgraded Vietnam’s long-term issuer and senior unsecured ratings to Ba2 from Ba3 and changed the outlook to stable from positive. Vietnam is the only country in Asia-Pacific and one of the four countries in the world to have ratings upgraded by Moody’s since early this year, showing that its economy has growing strengths and greater resilience to external macroeconomic shocks that are indicative of improved policy effectiveness./.
Related News
Vietnam ready to export first batch of sweet potatoes to China
13:57 | 06/04/2023 Anti-Smuggling
Australian Governor-General wraps up State visit to Vietnam
13:53 | 06/04/2023 Headlines
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Vietnam active at UN Human Rights Council’s 52nd session
16:11 | 05/04/2023 Headlines
Latest News
Việt Nam, US hold 12th political, security, defence dialogue
14:15 | 03/04/2023 Headlines
Private sector remains driving force for economy
14:11 | 03/04/2023 Headlines
State visit to Vietnam by Australian Governor-General to deepen the two’s goodwill, trust: expert
14:10 | 03/04/2023 Headlines
Vietnam"s economy to grow by 6.6% this year: OECD
17:45 | 02/04/2023 Headlines
More News
Bright outlook for Vietnamese tourism in new situation
16:52 | 02/04/2023 Headlines
Vietnam, US hold 12th Political, Security, Defence Dialogue
20:25 | 01/04/2023 Headlines
Vietnam calls for comprehensive, all-society approach to waste management
14:32 | 31/03/2023 Headlines
Many factors support foreign capital flow
13:40 | 30/03/2023 Headlines
Foreign SMEs pour capital into Vietnam
13:37 | 30/03/2023 Headlines
Leaders of aviation firms to be disciplined if employees committed wrongdoings
15:38 | 29/03/2023 Headlines
Vietnam - Lao joint border patrol held
15:31 | 29/03/2023 Headlines
CPI increases about 4.2% in first quarter
14:27 | 28/03/2023 Headlines
PM orders close coordination to remove obstables to property market
14:20 | 28/03/2023 Headlines
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Australian Governor-General wraps up State visit to Vietnam
13:53 | 06/04/2023 Headlines
Vietnam active at UN Human Rights Council’s 52nd session
16:11 | 05/04/2023 Headlines
Vietnam commits to building prosperous, fair, healthy Mekong River basin: PM
16:09 | 05/04/2023 Headlines
Việt Nam, US hold 12th political, security, defence dialogue
14:15 | 03/04/2023 Headlines
Private sector remains driving force for economy
14:11 | 03/04/2023 Headlines