Standard Chartered has revised up its forecast for Vietnam’s 2024 GDP growth to 6.8% from the previous 6.0%, reflecting the stronger-than-expected expansion in the third quarter of this year.
Vietnam is likely to secure the 7% economic growth target this year as set by the Government if solutions to support businesses and people bearing the brunt of the recent super typhoon Yagi are implemented very quickly, according to experts of the Vietnam Institute for Economics and Policy Research (VEPR).
HSBC has raised its forecast for the nation’s GDP growth this year to 7.0%, compared with the previous projection of 6.5%, following the country’s GDP growth recorded in the third quarter accelerating to 7.4%.
Despite the impact of Typhoon Yagi on business operations, Singapore-based United Overseas Bank (UOB) has raised its GDP growth forecast for Vietnam this year to 6.4% from its 5.9% projection about two weeks ago.
Prime Minister Pham Minh Chinh mandated concerted efforts to boost GDP growth to over 7.0 percent and simultaneously maintain macro-economic stability, inflation control and balanced budgets.
Vietnam's gross domestic product (GDP) expanded by about 7.4 percent in the third quarter and 6.82 percent during the first nine months of 2024 compared to the respective periods of last year, said the General Statistics Office (GSO) on October 6.
Vietnam's gross domestic product (GDP) expanded by about 7.4% in the third quarter and 6.82% during the first nine months of 2024 compared to the respective periods of last year, the General Statistics Office (GSO) reported on October 6.
Vietnam’s GDP growth in the third quarter of the year is projected to moderate to 5.1% compared to 6.9% recorded in the second quarter amid September’s inflation likely slowing down, according to Standard Chartered Bank’s recent macro-economic update about Vietnam.
The Government is striving to register an economic growth rate of 7 percent for the whole year, higher than the National Assembly (NA)’s target of 6-6.5 percent.
With the potential upside risks offsetting the temporary economic disruptions caused by typhoon Yagi, the Vietnamese economy is projected to grow by 6.5% for both 2024 and ahead to 2025, according to the latest report "Asian Economics Quarterly - Coming for a landing” released on September 30 by HSBC.
The Asian Development Bank (ADB) has maintained a positive economic outlook for Vietnam, forecasting its GDP growth at 6.0% this year and 6.2% next year, according to the Asian Development Outlook (ADO) September released on September 24.
Vietnam could reach the GDP growth target of 6-6.5% set by the National Assembly on the back of strong investment, export, and consumption, according to experts.
HSBC had raised its forecast for Vietnam’s GDP growth for this year to 6.5% and maintained its growth projection for next year at 6.5%, according to its latest report “Vietnam at a glance: Bring it all back”.
Vietnam’s GDP growth in the second quarter of the year is forecast to moderate to still-strong 5.3% from 5.7% in the first quarter, according to the Standard Chartered Bank’s recent macro-economic updates about Vietnam.
Despite a bright economic outlook for this year, Vietnamese GDP growth is unlikely to achieve the target of 6.5% set by the National Assembly (NA) due to internal and external impacts, said Nguyen Quoc Viet, deputy director of the Vietnam Institute for Economics and Policy Research (VEPR).
The country's economic growth this year is projected to reach below 6%, according to Dr. Nguyen Quoc Viet, vice director of the Vietnam Institute for Economic and Policy Research (VEPR).
