Fitch Ratings optimistic about Vietnam's economic growth

Vietnam’s GDP growth is expected to accelerate to 6.3% in 2024 and 7.0% in 2025, according to Fitch Ratings. (Photo: VNA)

Hanoi (VNA) – Credit ratings agency Fitch Ratings on November 9 forecast Vietnam’s GDP growth to accelerate to 6.3% in 2024 and 7.0% in 2025.

Domestic fiscal and monetary policies have pivoted to provide growing support to the economy, the agency said.

It noted that the country’s growth slowed to 4.3% in the first nine months of this year amid weak external demand and lingering headwinds in the domestic property sector.

Illustrative image (Source: VNA)

Earlier, Standard Chartered Bank maintained robust 2024 GDP growth forecast of 6.7% for Vietnam in its latest macro-economic updates about the Southeast Asian nation.

Experts from the International Monetary Fund (IMF) also expressed their optimism about the medium-term prospects, with the national GDP growth predicted to reach 5.8% in 2024 and 6.9% in 2025.

The 15th National Assembly (NA) on November 9 adopted a resolution on the socio-economic development plan for 2024, which sets a target of 6.0 - 6.5% growth in GDP for the year, as part of its ongoing sixth sitting./.

VNA