WB: Vietnam's economy will pick up pace over the second half
(VOVWORLD) - A challenging external environment and weaker domestic demand is leading to a slowdown in economic growth in Vietnam. But the economy will pick up pace over the second half of this year, and the following years, according to the World Bank's latest economic update entitled "Making Public Investment Work for Growth".
 WB: Vietnam's economy will pick up pace over the second half |
The report shows that Vietnam's economic growth slowed from 8% in 2022 to 3.7% in the first half of 2023. It forecasts a moderate growth of 4.7% in 2023, gradually accelerating to 5.5% in 2024 and 6.0% in 2025.
A proactive fiscal policy supporting short-term demand, removing barriers to the implementation of public investment, and addressing infrastructure constraints can help the economy achieve these targets and promote long-term growth. The report also recommends a number of policy options to get Vietnam's economy back on track, including diversifying export products and destinations to build medium-term resilience against adverse events. external shock.
At the same time, strengthening fiscal policy can play a stronger role in encouraging green practices and consumption, contributing to building a sustainable environment.