WB raises growth forecast
In a report published on August 8, the World Bank (WB) forecasts that Vietnam’s GDP growth will come in at 7.5 per cent in 2022, up from its January forecast of 5.5 per cent. It also believes that growth drivers will shift from external demand to domestic demand, and from the manufacturing and processing sector to the service sector, and makes four policy recommendations: more supportive fiscal policy; flexible monetary policy; strengthening the banking system; and restructuring.