Vietnam accelerates economic recovery in 2022

>> IMF optimistic about Vietnam’s growth outlook
>> According to UNDP, Vietnam’s growth will accelerate this year

Industrial production continues to be the motivation for economic growth.

Photo: VNA / CVN

At the beginning of 2022, the country received some positive predictions from international organizations regarding its economy. The Asian Development Bank (ADB) estimates that Vietnam’s growth will fluctuate between 6.5% and 6.7% between 2022 and 2023.

The World Bank (WB) predicts that gross domestic product (GDP) will initially increase by 5.3% in 2022 and will continue to maintain stable growth of around 6.5%. According to the Ministry of Planning and Investment, in the first four months of this year, Vietnam’s economy has rapidly adapted and recovered to the situation after the new COVID-19.

Positive results

Vietnam’s economy is showing signs of recovery. Inflation is curbed, GDP is 1er The quarter increased by 5.03% year-on-year.

The consumer price index (CPI) for the first four months reached 2.1% compared to the same period last year. 2 o’clockWhen Quarterly production and trading activity also increased significantly.

The Industrial Production Index (IPI) in April increased by 9.4% compared to 2021. On the other hand, coal processing increased by 21.4% year-on-year, meeting the needs of domestic electricity production.

Trade and services have actively returned to their dominance, thanks to the full opening after COVID-19, which promotes the dynamics of sectors such as industry, agriculture and tourism. The country has more than 7,000 companies that resumed production in April, an increase of 22.4% compared to 2021.

The Ministry of Planning and Investment asserts that this is an important means of motivating the progress of the national economy.

The country hopes to increase its economic growth to 6.5-7% between 2021 and 2025.

Photo: VNA / CVN

However, some international pressures challenge the government, including tensions between Russia and Ukraine, the Fed’s 0.25 percentage point rate hike, and uncertainty about fluctuations in bad debt and credit risk. Brings. Vietnam’s investment capital spending rate in the first four months of 2022 is only 18.48 percent of the plan set this year.

According to experts, the government’s socio-economic recovery and development program will create opportunities to restore raw material production and supply chains in several areas, boosting economic growth from 2021 to 2025 to 6.5-7%. It is useful for.

From now to the end of the year, the country will ensure sustainable development of the economy under the following conditions, with a particular focus on controlling inflation, monitoring real estate market fluctuations, solving monetary policy, and disposing of non-performing loans: .. New normal.