With certain headwinds predicted for the global economy in 2023, Vietnam too, faces considerable challenges. But opportunities are also significant if concerted and appropriate solutions are taken, an expert has said.
After hitting a record low in 2022, Vietnam’s money supply (M2) will rebound in 2023 and become an important driver for the recovery of the stock market, KB Securities Vietnam (KBSV) forecast.
The Singapore-based United Overseas Bank (UOB) has kept its forecast for Vietnam's GDP growth in 2023 unchanged at 6.6% in line with the official forecast of 6.5%, although growth momentum is likely to be weaker.
The State Bank of Vietnam (SBV) must direct commercial banks to meet all payment and cash demands of individuals and firms during Tet (Lunar New Year).
Given the little room left for monetary policy to add stimulus to the economy, fiscal policy would be the engine of growth next year, according to Ho Sy Hung, Vice Chairman of the Commission for the Management of State Capital at Enterprises.
The Asian Development Bank (ADB) said while Vietnam’s economy is performing well amid uncertainties in the global economy, risks to the economic outlook have become elevated.
Amid rising non-performing loans (NPLs), many banks have strongly increased their loan-loss reserve (LLR) funds to readily face uncertainties in the future.
The State Bank of Vietnam (SBV)’s recent decision to revise up the 2022 credit growth target of the banking system has eased access to bank loans amid a credit crunch, especially at the peak season to prepare for Lunar New Year (Tet).
The macroeconomic outlook of Vietnam is bright as the country has witnessed strong domestic consumption, received foreign direct investments and maintained a surplus in trade balance with other countries, wrote an article recently published on the US’s seekingalpha.com.
The Bank of Thailand (BoT) on November 30 raised its policy rate by 25 basis points for a third straight meeting, as it sought to balance between controlling inflation and supporting an economic recovery.
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