Vietnam’s economic growth will range from 4.5 percent to 6.8 percent next year, depending on global conditions amid the COVID-19 crisis, the World Bank forecast in a report this week. While the Vietnamese economy has been seriously impacted by COVID-19, it remains resilient and is poised to bounce back, the World Bank said. Prospects remain positive for both the short and medium terms although the Vietnamese economy suffered from COVID-19 impacts in the first half of this year, according to the latest Taking Stock report, titled ‘What will be the new normal for Vietnam? The economic impact of COVID-19’, released on Thursday. “If the world situation gradually improves, economic activity should rebound in the second semester of 2020 so that the economy will grow at around 2.8 percent for the entire year, and by 6.8 percent in 2021,” the World Bank said in a press release, quoting the report. “With less favorable external conditions, the economy will expand by only 1.5 percent in 2020 and 4.5 percent in 2021.” Finding new drivers of growth to consolidate the expected recovery would be the main challenge for Vietnam. Continued uncertainties both at home and abroad amid COVID-19 will make it unlikely for the… Read full this story
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