Domestic steel demand is expected to keep falling due to the property market slump and tightened monetary policy, economic downturn in many export markets and a rise in supply making the outlook for the industry in 2023 poor, analysts said.

Although the economy was forecast to continue facing difficulties and challenges in 2023, there were silver linings to pin hope on, experts said.

Deputy Managing Director of the International Monetary Fund (IFM) Antoinette Sayeh has lauded Vietnam for its high economic growth and controlled inflation over the past years despite global uncertainties.

After hitting a record low in 2022, Vietnam’s money supply (M2) will rebound in 2023 and become an important driver for the recovery of the stock market, KB Securities Vietnam (KBSV) forecast.

The Singapore-based United Overseas Bank (UOB) has kept its forecast for Vietnam's GDP growth in 2023 unchanged at 6.6% in line with the official forecast of 6.5%, although growth momentum is likely to be weaker.

Vietnam's industrial sector grew by 9% in 2022, according to a report published on December 26 by the Ministry of Industry and Trade (MoIT).

VOV.VN - This year has seen the State Bank of Vietnam (SBV) operate a flexible monetary policy aimed at controlling inflation, supporting further economic recovery, adapting to market fluctuations, and ensuring the safety of the banking system.

Given the little room left for monetary policy to add stimulus to the economy, fiscal policy would be the engine of growth next year, according to Ho Sy Hung, vice chairman of the Commission for the Management of State Capital at Enterprises.

The State Bank of Vietnam (SBV)’s recent decision to revise up the 2022 credit growth target of the banking system has eased access to bank loans amid a credit crunch, especially at the peak season to prepare for Lunar New Year (Tet).

Prime Minister Pham Minh Chinh chaired a meeting between permanent Government members and some ministries and sectors on December 6 to discuss macro-economic, fiscal, and monetary policies.