The Central Institute for Economic Management (CIEM) updates Vietnam's economic outlook 2022 during a Hanoi workshop, July 15. Photo: CIEM

During a Hanoi workshop on Friday to launch a report on Vietnam’s economy in the first half of 2022, the Institute put forth two growth scenarios based on the statistics of Vietnam’s recovery momentum.

The year’s exports are forecast to increase by 15.8% in Scenario 1 and 16.3% in Scenario 2, while trade surplus is forecast at 1.2 billion USD and 2.5 billion USD, respectively. Average inflation in 2022 is forecast at 4.0% and 3.7%, respectively.

The report also re-emphasizes improving the micro-economic foundation and renewing the economic institutional system in a direction that is more innovation and green recovery-friendly coupled with macroeconomic stability.

Nguyen Anh Duong, Head of the General Research Department, Central Institute for Economic Management, said: “Green transition can happen at any time, while green recovery represents the green transition that takes place right in the recovery process. This process has many advantages, the first is the support of stakeholders. According to the traditional model, if businesses are told to switch to a green growth model, then probably no one does, because people are making a lot of profit according to the old model, how can there be motivation to switch. But in the wake of the pandemic, which requires adaptation, people are easier to agree on.”