World Bank Forecasts Vietnam's Economic Growth at 4.7 Percent in 2023
Domestic demand is expected to be the main driver of growth this year, albeit expanding at a slower rate than last year, the bank said.
Inflation is forecast to average 3.5 percent this year due to expected civil service salary increases, moderating to 3.0 percent in 2024 and 2025 assuming stable commodity and energy prices.
The current account is expected to improve further thanks to a modest recovery of exports, continued recovery of international tourism, and resilient remittances.
The Asian Development Bank revised down its forecast of Vietnam's gross domestic product (GDP) growth in 2023 to 5.8 percent from the previous estimate of 6.5 percent in April.
In its latest forecast, the United Overseas Bank maintained Vietnam's economic growth projection at 5.2 percent for 2023 and 6 percent for 2024.
4155/v
