Vietnam economy seen growing 8% in 2022, beating official target
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Vietnam’s economy is expected to grow 8% this year, beating an official target for an expansion of 6.0%-6.5%, the government said on Tuesday.
The country’s exports are forecast to rise 9.5% to $368 billion in the year, the government said in a statement, adding that its foreign direct investment inflows are seen rising 6.4%-11.5% to $21 billion-$22 billion.
Vietnam, a regional manufacturing hub, has seen its economy rebounding from the pandemic, with gross domestic product in the third quarter growing 13.67% from a year earlier.
The government said it will pursue “a flexible and prudent” monetary policy during the rest of the year to ensure macroeconomic stability.
Vietnam will aim for a growth of 6.5% and will consider an inflation target of 4.5% next year, the government said.
Questions & Answers
Q.What is the projected economic growth for Vietnam in 2022?
What is the projected economic growth for Vietnam in 2022?
Vietnam's economy is forecast to grow 8% this year, exceeding the official target range of 6.0%-6.5%. This rebound follows strong third-quarter growth of 13.67% from the previous year.
Q.What is the expected value of Vietnam's exports this year?
What is the expected value of Vietnam's exports this year?
The government anticipates exports will increase by 9.5% this year, reaching a total of $368 billion. This is a significant contribution to the country's economic performance.
Q.What are the government's economic targets for next year?
What are the government's economic targets for next year?
For next year, Vietnam aims for economic growth of 6.5%. The government will also consider setting an inflation target of 4.5% to maintain macroeconomic stability.