U s economic outlook 2022

Vietnam’s positive outlook rides on strong external demand, a recovery in domestic consumption, and healthy investment inflows. Vietnam’s economic prospects would remain bright with the GDP growth expected to expand at 6.3% in 2022 and 6.5% in 2023. Overview of the meeting between AMRO's representative and the State Bank of Vietnam. This preliminary assessment was made by the ASEAN+3 Macroeconomic Research Office (AMRO) after its Annual Consultation Visit to Vietnam from May 3-18, 2022. The mission was led by AMRO Group Head and Lead Economist, Sanjay Kalra. AMRO Director, Toshinori Doi, and Chief Economist, Hoe Ee Khor participated in the policy meetings. The discussions focused on the recovery of the Vietnamese economy from the pandemic and made policy recommendations to further support the recovery while maintaining macroeconomic stability and creating conditions for sustainable and inclusive growth over the medium term. According to Kalra, “such a … [Read more...] about Vietnam’s economic outlook remains bright: AMRO

Vietnam has risen in official pandemic recovery indices thanks to production continuity and vaccinations, Photo: Le Toan The International Monetary Fund (IMF) released in April its World Economic Outlook report, stating that global growth is projected to slow from an estimated 6.1 per cent in 2021 to 3.6 per cent in 2022 and 2023. This is 0.8 and 0.2 percentage points lower for 2022 and 2023 than projected in January. “Beyond 2023, global growth is forecast to decline to about 3.3 per cent over the medium term. War-induced commodity price increases and broadening price pressures have led to 2022 inflation projections of 5.7 per cent in advanced economies and 8.7 per cent in emerging market and developing economies - 1.8 and 2.8 percentage points higher than projected last January,” the report said. “Multilateral efforts to respond to the humanitarian crisis, prevent further economic fragmentation, maintain global liquidity, manage debt distress, tackle climate change, and end … [Read more...] about Measures put recovery on the front foot

Vietnam experiences a strong recovery Sanjay Kalra, group head and lead economist of the ASEAN+3 Macroeconomic Research Office (AMRO) said, “The Vietnamese economy is expected to grow at 6.3 per cent this year and 6.5 per cent in 2023 and inflation is projected to remain contained. This positive outlook rides on strong external demand, a recovery in domestic consumption, and healthy investments inflows bolstered by an appropriate macroeconomic policy stance.” Thanks to the easing of restrictions and domestic containment measures, the aggregate output gap is expected to narrow significantly by the end of the year. The recovery is, nevertheless, uneven across sectors. While both the manufacturing and service sector outputs have surpassed their 2019 levels, the service sector still has pockets of distress, especially in the tourism, hospitality, and logistics sectors. Consumer price inflation is projected to remain contained under 3.5 per cent as the authorities plan to utilise … [Read more...] about Vietnam experiences a strong recovery amidst external headwinds