Economic recovery to continue in Q3: Standard Chartered

Containers are seen at Cat Lai Terminal in Ho Chi Minh City, December 24, 2021. Photo by VnExpress/Thanh Nguyen

Standard Chartered forecasts Vietnam's GDP growth to be 5.1% in Q3, up from 4.1% in the previous quarter.

Growth in retail sales in September is expected at 8.2%. Exports will drop 6.2% and imports 7%. Industrial production growth will be up 3.2%. The inflation rate may be 3.2% this month, compared to 3% last month.

Tim Leelahaphan, economist for Thailand and Vietnam at Standard Chartered Bank, said: "As the economy is recovering, we will no longer be so dependent on monetary policy."

This bank maintains its 2023 GDP growth projection at 5.4%, lower than the country’s 6.5% growth target.

Some domestic and international organizations predict Vietnam's growth this year to fluctuate below 6%.

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