A sustained global recovery would ensure strong demand for Vietnamese products in its main export markets: the U.S., E.U., and China, it said in a report released Tuesday, after making the same growth forecast a month ago.
The forecast assumes restrictive mobility measures would succeed in controlling infections by the end of this quarter.
The rebound would also be supported by the vaccination of at least 70 percent of the adult population by mid-2022, preventing severe new outbreaks.
Aside from the second social protection support package, the government is considering tax relief to support businesses.
Fiscal policy would become more supportive with faster execution of public investment, especially once mobility restrictions are rolled back.
Given available fiscal space, the government should deploy further resources to mitigate adverse social impacts.
The government should improve the implementation of its cash relief programs to reach more households, informal workers, and those unregistered in existing social assistance registries who have been affected.
World Bank forecasts a 6.5 percent growth for the country next year.
This projection is subject to downside risks, including a more protracted outbreak, causing prolonged disruptions to economic activity.
Asian Development Bank had recently pegged Vietnam's growth at 3.8 percent this year.
The country targets a growth of 3.5-4 percent, after rising 2.9 percent last year.
- World Bank supports Vietnam in renewable energy development
- World Bank raises China growth outlook to 8.5%
- World Bank provides US$6.2-million grant to help Vietnam cope with Covid-19
- World Bank slashes India’s growth forecast to 8.3% in FY22
- Poverty in Pakistan rises to over 5% in 2020: World Bank
- World Bank approves 200 million USD credit to Cambodia
- Vietnam seeks World Bank aid for Covid-19 vaccine development
- World Bank to fund Vietnam with over $320mn for COVID-19 recovery, urban governance
- World Bank approves over US$320 million to support Vietnam’s recovery efforts
- South Africa seeking 95 billion rand from IMF, World Bank, NDB
- World Bank cuts 2021 GDP projection to 4.5%
- World Bank lowers Malaysia GDP growth due to pandemic
- Global economy expected to expand 5.6% in 2021, says World Bank
- India Projected to Grow at 8.3% in 2021, Second Wave Undermining Rebound: World Bank
- Poverty in Pakistan rises to over 5 pc in 2020, estimates World Bank
- View: World Bank was wrong in its warning of falling foreign remittances
- World Bank approves $800m loan for Pakistan: Report - Times of India
- India, World Bank sign $500 million loan pact for rural roads
- World Bank approves US$400mil loan to Philippines in order to achieve a resilient financial sector
- Andhra Pradesh introduces programme to transform foundational learning with World Bank aid
World Bank maintains Vietnam’s growth at 4.8 pct have 407 words, post on e.vnexpress.net at September 28, 2021. This is cached page on Talk Vietnam. If you want remove this page, please contact us.