(VOVWORLD) -The Asian Development Bank (ADB) has raised its economic growth forecast for Vietnam this year to 7.5%, according to a regular supplement to the Asian Development Outlook (ADO) 2022 released on Wednesday. It also revised the Vietnamese inflation forecast for the year down to 3.5%.
In September the bank forecast that the Vietnamese economy would expand by 6.5% this year with inflation at 3.8%.
The ADB report said that 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% as major trade partners weaken.