The Asian Development Bank (ADB) has revised up its economic growth forecast for Vietnam to 7.5% this year, from 6.5% as projected in September, given regional and global gloom.
Hanoi (VNA) - The Asian Development Bank (ADB)has revised up its economic growth forecast for Vietnam to 7.5% this year, from 6.5% as projected in September, given regional and global gloom.
In its freshly released Asian Development Outlook (ADO) 2022,the ADB said has also revised the Vietnamese inflation forecast down to 3.5%from 3.8% in September.
ADB experts noted that while the local economy is currentlyperforming well amid global uncertainties, risks to the country’s economicoutlook have increased.
The bank said although local trade continues to expand,there are indicators of weakening global demand for the nation’s exports.Moving forward, growth for 2023 has therefore been adjusted down to 6.3% asmajor trade partners weaken.
Illustrative photo (Source: VNA)
The bank also lowered its economic growth forecasts fordeveloping Asia and the Pacific amid an increasingly negative global outlook.
Accordingly, the regional economy is set to grow by 4.2% in2022 and 4.6% in 2023, slightly down from the September respective forecasts of 4.3% and4.9%./.
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Illustrative photo (Source: VNA) 
Illustrative photo (Source: VNA) 
