Many international financial institutions share the view that it would reach at least 6% this year. (Photo: VNA) Standard Chartered Bank expected Vietnam to have arobust GDP growth of 6.7% in 2024 (6.2% and 6.9% in the first half and secondhalf of the year, respectively).
“Vietnam continues to offer a promising medium-termoutlook. To maintain rapid growth and competitiveness, Vietnam needs to upgradeinfrastructure and prepare to lower carbon emissions,” said Tim Leelahaphan,Economist for Thailand and Vietnam, Standard Chartered.
According to the economist, retail sales andindustrial production have stayed robust despite the recent moderation. Exportsand imports are starting to recover, though electronics-related trade remainstentative. Given re-emerging inflation concerns, inflation is anticipated topick up to 5.5% in 2024 from 3.3% in 2023.
HSBC also said Vietnam’s GDP is on a firm recoverytrack and growth can reach 6% this year. The bank expected Vietnam’s inflationto be at 3.4% this year, much lower than the target of 4-4.5%.
Meanwhile, Michael Kokalari, a chartered financialanalyst and chief economist at VinaCapital, forecast that the nation's GDPgrowth will increase to 6-6.5% in 2024 from 5.1% last year.
After a challenging 2023, all indications are that 2024should be a stronger year for Vietnam’s economy, driven by a rebound inmanufacturing and improvement in consumer sentiment, he said.
Besides, the steady fall in interest rates through2023 should help boost the real estate market after having helped support thestock market last year, he added./.
VNA
