ADB forecasts Vietnam's economic growth in 2024 at 6%

According to the Asian Development Outlook (ADO) Report released by the Asian Development Bank (ADB) today (December 13), ADB forecasts that Vietnam's economic growth in 2024 will be maintained at 6%.

The bank also forecasts Vietnam's growth in 2023 to be 5.2% compared to the previous forecast of 5.8%. The weaker-than-expected recovery due to weak external demand will continue to hinder the growth of the industrial and service sectors; as well as slowing the recovery of domestic employment and consumption.

ADB experts also recommend that monetary policy will likely be cautious and proactive because state management agencies will strengthen effective control of gasoline, electricity, food, and health care prices. health and education, helping to control inflation. Therefore, ADB forecasts that inflation in Vietnam will be maintained at 3.8% in 2023 and 4% in 2024.

Also in the ADB Report, ADB Bank increased its economic growth forecast for developing economies in Asia and the Pacific, after domestic demand was strongly promoted and achieved growth. higher than expected as in China and India.

The regional economy is expected to grow 4.9% this year, compared to the previous forecast of 4.7% in September. Additionally, ADB also forecasts regional economic growth for the year 2024 will be maintained at 4.8%.

China's economy is forecast to grow 5.2% this year, compared with a previous forecast of 4.9%, after household consumption and public investment boosted growth in the third quarter. India's growth outlook was raised from 6.3% to 6.7% after faster-than-expected growth in the July-September period, helped by double-digit growth in the industrial sector. . Increased growth in China and India more than offsets the forecast decline in Southeast Asia, due to tepid manufacturing activity.

ADB Chief Economist Albert Park commented: “Developing Asia continues to grow at a strong pace, despite the challenging global environment. Inflation in the region is also gradually being controlled. However, risks remain, from rising global interest rates to climate phenomena such as El Niño. Governments in Asia and the Pacific must remain vigilant to ensure resilient economies and sustainable growth.”

The region's inflation forecast for 2023 has been reduced from 3.6% previously to 3.5%. For 2024, inflation is expected to increase to 3.6%, compared to the previous forecast of 3.5%. The growth outlook for Southeast Asia this year has dropped from 4.6% to 4.3%, amid weakening demand for export products...

According to baotintuc.vn