WB economist has high hope for Vietnamese economic recovery

VOV.VN - Vietnam’s economy will recover on the back of solid growth achieved in the first half of 2021 after the lockdown is lifted, Dorsati Madani, Senior Economist at the World Bank (WB) Vietnam, has said.

Moving forward, the Vietnamese economy is likely to bounce back strongly from the end of the third quarter, similar to how it recovered after the lockdown was eased in April of last year.

She stated that although the nation is facing multiple economic risks due to the impact of the COVID-19 pandemic, the economy has proven to be resilient and dynamic. The country was also among a few nations to record sustained positive economic growth last year.

The economist went on to express her hope that the Vietnamese economy can rebound ahead in the future as a result of the recovery of its major markets, such as the United States, China, and the EU.

Last month saw the WB forecast Vietnamese GDP to expand by approximately 4.8% in 2021, two percentage points lower than its projection last December.

“Whether Vietnam’s economy will rebound in the second half of 2021 will depend on the control of the current COVID-19 outbreak, the effective vaccine rollout, and the efficiency of the fiscal measures to support affected business and households, and to stimulate the recovery,” said Rahul Kitchlu, acting country director for Vietnam of the WB.

“While downside risks have heightened, economic fundamentals remain solid in Vietnam, and the economy could converge toward the pre-pandemic GDP growth rate of 6.5 to 7 percent from 2022 onward,” Kitchlu added.

The WB is in the process of waiting for figures to be released by the General Statistics Office (GSO) by the end of this month regarding the Vietnamese Government's decision to reopen the economy before it revises its GDP prediction.

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