HCMC – The Asian Development Bank (ADB) has upheld its economic growth forecasts for Vietnam, projecting growth at 6.0% in 2024 and 6.2% in 2025, driven by the nation’s positive performance in the first half of 2024.
The regional lender also expects Vietnam’s inflation to remain stable at 4.0% for both years.
ADB chief economist Albert Park said that most of developing Asia and the Pacific is experiencing accelerated economic growth compared to the latter half of last year.
While the region’s fundamentals are strong, policymakers should remain cautious of potential risks, including uncertainties around elections in key economies, interest rate decisions, and geopolitical tensions, he added.
Although the manufacturing sector related to trade is anticipated to slow down, the growth forecast for Southeast Asia remains at 4.6% for this year, supported by resilient domestic and external demand.
The ADB has revised up its growth forecast for the developing Asia and Pacific region to 5.0% in 2024 from a previous estimate of 4.9%, citing robust domestic demand and increased exports. The growth outlook for 2025 remains steady at 4.9%.
