Quarterly gdp growth rate of india

In long term, transforming the higher education system will be key to boosting Vietnam’s productivity and helping achieve its goal of becoming a high-income country by 2045. Vietnam’s GDP growth is forecast to surge from an estimated 2.6% in 2021 to 7.5% in 2022, with backing from resilient manufacturing and a robust rebound in services. Overview of the event. Photo: Nguyen Tung Country Director for the World Bank in Vietnam Carolyn Turk revealed the figures at the launch of its bi-annual economic outlook for Vietnam titled “Taking Stock: Educate to Grow” today [August 8]. According to Turk, the global economy has been experiencing a series of very large and negative shocks, including ongoing Covid-19-related disruptions and supply shocks associated with the Russia-Ukraine conflict. In this context, Vietnam’s economy has shown “relative resilience and staged a strong rebound after last year’s Covid-19 induced slowdown,” Turk said. Vietnam’s economic … [Read more...] about Vietnam’s GDP growth set to expand by 7.5% in 2022: World Bank

A customer at an HDBank transaction office. Viet Nam’s policy rate is expected to rise 50 basis points to 4.5 per cent by end-2023. — VNA/VNS Photo Capital account restrictions largely insulate interest rates in Viet Nam from global monetary tightening and the country’s policy rate is expected to rise 50 basis points to 4.5 per cent by end-2023, according to Fitch Ratings. Under a report on the impact of rising interest rates on Asia-Pacific (APAC) banks released this week, Fitch said annual credit targeting remains a centrepiece of the State Bank of Vietnam's (SBV) monetary policy framework, and the refinancing rate is not a primary policy lever. Moreover, strong foreign investment inflows underpin the dong's resilience, which has depreciated by only 2 per cent year-to-date by end-July 2022, making it the second-best performing currency in APAC behind only the Hong Kong dollar. According to Fitch, Viet Nam’s rates are driven chiefly by economic activity and inflation. … [Read more...] about Monetary stance points to only mildly higher interest rates in Viet Nam: Fitch Ratings

A customer at an HDBank transaction office. Vietnam’s policy rate is expected to rise 50 basis points to 4.5 per cent by end-2023. (Photo: VNA) Hanoi (VNS/VNA) - Capital account restrictions largely insulate interest rates in Vietnam from global monetary tightening and the country’s policy rate is expected to increase 50 basis points to 4.5% by end-2023, according to Fitch Ratings. Under a report on the impact of rising interest rates on Asia-Pacific (APAC) banks released this week, Fitch said annual credit targeting remains a centrepiece of the State Bank of Vietnam's (SBV) monetary policy framework, and the refinancing rate is not a primary policy lever. Moreover, strong foreign investment inflows underpin the dong's resilience, which has depreciated by only 2% year-to-date by end-July 2022, making it the second-best performing currency in APAC behind only the Hong Kong dollar. According to Fitch, Vietnam’s rates are driven chiefly by economic activity and inflation. … [Read more...] about Monetary stance points to only mildly higher interest rates in VN: Fitch Ratings

At the press conference to release the report. (Photo: WB Vietnam) According to the latest economic update by World Bank (WB) for Vietnam, the country’s economy expanded 5.2 percent in Q4 of 2021, and respectively 5.1 percent and 7.7 percent in Q1 and Q2 of 2022. Inflation is projected to average 3.8 percent over the year. Carolyn Turk, WB Country Director for Vietnam, said that the bi-annual report “lays out a set of policy recommendations that could help mitigate the impact of these risks and make the economy more resilient going forward.” Titled “Taking Stock: Educate to Grow”, this edition underlines transforming the higher education system as the key to boosting the country’s productivity and achieving its development goals, in the context where the country re-emerges from the pandemic and into a challenging global environment. The report’s co-author Dorsati Madani said that while Vietnam’s economic recovery had been relatively stable, not all sectors witnessed the same … [Read more...] about Vietnam’s economic growth forecast at 7.5 percent in 2022: World Bank

Viet Nam has the cheapest valuations and second highest EPS growth in Southeast Asia, as this table shows. — Source VinaCapital “Viet Nam’s economy is even stronger than we had expected at the beginning of the year, but that strength is not reflected by higher stock prices due to the [US’s] aggressive rate hikes and the recent regulatory crackdown in Viet Nam,” Michael Kokalari, chief economist at VinaCapital, has said in a report. “That said, we expect over 20 per cent [company earnings] growth in 2022, which should support a recovery in the VN-Index by the end of 2022.” July economic statistics have not only reinforced VinaCapital’s forecast of 7.5 per cent GDP growth in 2022 but also make it look like the economy would grow by a stunning 10 per cent year-on-year in the current quarter, he said. “Our expectation that Viet Nam’s economy will grow by at least 7.5 per cent this year (and by at least 10 per cent in Q3) leads us to believe that the consensus forecast for 16 per … [Read more...] about Stock market to benefit from unexpectedly strong domestic growth: VinaCapital

Jakarta (VNA) – Indonesia’s economy expanded 5.44 % in the second quarter of 2022, up slightly from the 5.01% growth recorded in the first quarter according to Statistics Indonesia. Exports, which contribute 25% of the country’s GDP, saw a 19.74% increase, as the disruption in global supply chains pushed up the prices of Indonesia ’s key products. Besides, the lifting of COVID-19 restrictions and rising spending on the occasion of the Eid al-Fitr holiday also stimulated domestic consumption. The Government’s social assistance for low-income households contributed a 5.51% increase in domestic consumption./. VNA … [Read more...] about Indonesian economy posts higher growth in Q2

Although all the micro-economic and macro-economic advantages are available, it seems that there is no key catalyst for trending towards a new growth level at the stock market. Profits vary Initial statistics show that around 600 corporations have made public their financial statements in the second quarter of 2022. The number could be a bit higher if all the estimated figures were actively made public. Figures will continually be updated over the next few days, but the sales and profits of listed corporations will rise positively. For instance, as estimated by Vndirect Securities Corporation, considering 590 corporations listed by 26 July the total sales and profits in the second quarter increased by 25.3% and 17.9% respectively, over the same period last year. Stocks with high capitalization of more than VND 10,000 bln have recorded an average of 34.3% increase in sales and 24.9% in net profits. It is certainly normal for the stock trading market to have dark and bright … [Read more...] about Stock market showing no indication of growth

The S&P Global Vietnam Manufacturing Purchasing Managers' Index remained above the 50.0 point no-change mark for the tenth successive month in July, signalling a further strengthening of business conditions. That said, at 51.2 points – down from 54.0 points in June – the index signalled a less significant improvement. New orders increased for the tenth month running, but the rate of expansion eased to its weakest point since April. Meanwhile, new export business rose solidly and at a faster pace than total new orders. The continued growth of new orders encouraged manufacturers to keep expanding production in July. Output rose for the fourth successive month. However, the rate of expansion was only marginal and the softest in the current growth sequence amidst signs of lower demand, shipping difficulties, and pricing pressure. There were signs, however, of price and supply pressures easing at the start of the third quarter. In terms of prices, the rate of input cost … [Read more...] about Manufacturing output continues to rise amidst signs of slowing growth

The city's tourism department is urging travel agencies and destinations to build attractive and unique tourism products. In the first seven months of this year, the number of visitors to Hanoi increased by 3.6 times to touch 10.62 million, over the same period in 2021. Hanoi's tourism industry sees positive growth in the January-July period. Photo: Hai Linh According to the Hanoi Department of Tourism, the city welcomed over 425,000 international arrivals and 10.2 million domestic visitors, an interannual increase of 3.5 times. Total revenue of the sector was estimated at VND31.9 trillion (US$1.36 billion), up 3.9 times year on year. Thus, in comparison to the plan set by the city earlier this year, the capital’s tourism industry has completed the goal of welcoming 9-10 million tourists, including 1.2-2 million international visitors and earning total revenue of VND27.8-35.8 trillion ($1.2-1.5 billion). In terms of accommodation, the average occupancy … [Read more...] about Hanoi’s tourism industry sees positive growth during January-July

Illustrative image (Source: Reuters) Kuala Lumpur (VNA) - Malaysia is on the road to recovery in terms of headline economic numbers, but Finance Minister Zafrul Abdul Aziz has warned of risks to the recovery amid an uncertain global economic outlook. He said the numbers speak for themselves as Malaysia had a strong first quarter this year, with gross domestic product ( GDP ) growth of 5%, and is on track to achieve a GDP growth rate of 5.3 to 6.3% in 2022. Meanwhile, the unemployment rate dipped to 3.9% in both May and June 2022, showing a declining trend for 14 consecutive months now, he said in his opening keynote address at the Malaysian Student Leaders Summit XVI 2022 on August 8. The minister said Malaysia’s trade performance has also remained resilient, maintaining its growth momentum as trade data showed double digit growth for 16 consecutive months since February 2021. However, he said Malaysia is also facing risks and challenges to recovery such as the … [Read more...] about Malaysian finance minister warns of risks to recovery