WB forecasts 2022 GDP growth of 5.5%

According to the World Bank (WB), in the medium term, when the service sector is set to recover and if there are no new fluctuations, Vietnam’s economy will return to its pre-Covid-19 growth level by 2023. It also forecast that GDP growth will rise to 5.5 per cent this year from 2.6 per cent in 2021. The budget deficit and public debt will be at 58.8 per cent of GDP, much lower than the limit, while inflation will be less than 4 per cent. The WB also pointed out some risks for the country’s economy, in particular the unpredictable developments of the pandemic, fiscal and monetary space being narrowed, and challenges in sustainable development.