The Asian Development Bank (ADB) on Wednesday revised down its forecast of Vietnam’s gross domestic product (GDP) growth in 2023 to 5.8 percent from the previous estimate of 6.5 percent in April.
The Southeast Asian country’s economy is expected to grow 6.0 percent in 2024, down from the 6.8 percent prediction in April, according to the bank.
Inflation forecasts are revised down to 3.8 percent from 4.5 percent for 2023, and 4.0 percent from 4.2 percent for 2024.
While Vietnam’s industrial production is shrinking due to falling global demand, other sectors are forecast to display healthy growth.—Xinhua
