HANOI (Bernama-Xinhua): Standard Chartered Bank maintained a robust 2024 GDP growth forecast of 6.7 per cent for Vietnam in its latest macroeconomic updates about the South-East Asian country, as reported by Vietnam News Agency report on Wednesday.
The bank has lowered the country's annual GDP growth in 2023 to 5.0 per cent from the previous 5.4 per cent.
The revised forecast would require growth of 7.0 per cent year-on-year in the fourth quarter, which may still be challenging, the bank said.
The inflation forecast for 2023 is revised up to 3.4 per cent from 2.8 per cent previously.
The inflation rate for the fourth quarter is forecast to reach 4.3 per cent (from 2.7 per cent) and is likely to rise higher next year, according to the bank.
Tim Leelahapan, economist of Thailand and Vietnam, Standard Chartered, said "The medium-term outlook remains promising given Vietnam's economic openness and stability. To reinvigorate FDI inflows, Vietnam needs to resume rapid GDP growth and develop its infrastructure."
The United Overseas Bank's Global Economics and Market Research unit has cut the full-year growth forecast for Vietnam in 2023 to 5 per cent from the earlier 5.2 per cent.
In its latest forecast, the International Monetary Fund (IMF) maintained its projection for Vietnam's economic growth at 4.7 per cent in 2023.
Meanwhile, the investment fund VinaCapital predicted that the country's GDP will likely grow less than 5 per cent in 2023. - Bernama-Xinhua
