Illustrative image (Photo: VNA) Washington DC (VNA) – Vietnam’s 8% growth in 2022 wasa bright spot of the region and the world, said Daniel Leigh, head of the WorldEconomic Studies division in the International Monetary Fund (IMF)'s ResearchDepartment, which produces the World Economic Outlook (WEO).
In an interview granted for the Vietnam News Agency during the week of Spring Meetings of the IMF and the WB in Washington DC, Leighsaid the IMF have just revised up the growth forecast for Vietnam, adding that this ispartly due to the rebound from COVID-19 and trade diversion. Some of the investmentis shifting to Vietnam, giving the country a lift, said the expert.
Although the IMF expected a slowdown in Vietnam’s growth, the projected rate is still high, at 5.8% in 2023 and 6.9% in 2024, he said.
He also noted that inflation in Vietnam is relativelylow, at over 3% in 2022. It is coming up – partly because of the dynamic economy– and is expected to be back to the world inflation target, at around 4.3% in2024.
Daniel Leigh, head of the World Economic Studies division in the International Monetary Fund (IMF)'s Research Department (Photo: flickr.com) For Vietnam to continue to grow strongly in the remainingquarters of this year and the next five years, Leigh recommended that the country's monetarypolicy continue to focus on bringing down inflation as it happens, and fiscalpolicy continue giving the targeted support to the vulnerable households.
Regarding financial stability, a priority should be given tohelping stabilise the real estate and corporate bond markets with specifictools, but this should not distract from the overall move toward inflationstability, he suggested./.
