Vietnam’s economy is expected to grow 4.7 percent in 2023 due to weaker external and domestic demand, recovering to a projected 5.5 percent in 2024 and 6.0 percent in 2025, Vietnam News reported Wednesday, citing Vietnam’s Macro and Poverty Outlook recently released by the World Bank.
Domestic demand is expected to be the main driver of growth this year, albeit expanding at a slower rate than last year, the bank said.
Inflation is forecast to average 3.5 percent this year due to expected civil service salary increases, moderating to 3.0 percent in 2024 and 2025 assuming stable commodity and energy prices.—APP
