(VOVWORLD) -Vietnam’s growth projections for 2024 and 2025 remain unchanged at 6% and 6.2%, respectively, according to the Asian Development Bank (ADB)’s Asian Development Outlook released on Wednesday.
 Illustration photo: baochinhphu.vn
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Inflation is forecast to stabilize at 4% this year and next year, according to the report. The trade-related manufacturing sector is expected to slow down in the near future.
The report also provides economic forecasts for Southeast Asia region, which will be maintained at 4.6% this year thanks to steady improvement in domestic and external demand.
This year's outlook for the Caucasus and Central Asia region is raised to 4.5% from the previous forecast of 4.3%, partly thanks to stronger-than-expected growth in Azerbaijan and Kyrgyzstan.
In the Pacific, the growth outlook for 2024 is maintained at 3.3%, thanks to spending on tourism and infrastructure, along with recovering mining activity in Papua New Guinea.
Growth in developing Asia and the Pacific is expected to be 5.0% this year, the ADB said, higher than the previous forecast of 4.9%. The report noted that stronger domestic demand and exports has become the driving force behind the region's rapid growth. ADB maintained its growth forecast of 4.9% for the Asian region in 2025.