Global business travel association gbta

According to the report, despite the challenging global economic environment, the outlook for the Vietnamese economy is still favorable according to the baseline forecast. Due to the impact of the low starting point, GDP is expected to grow by 7.5 percent in 2022 and 6.7 percent in 2023, when growth returns to pre-pandemic levels at 6.5-7 percent. Meanwhile, the average inflation is expected to fall around 3.8 percent in 2022, with the rising trend continuing in the second half of 2022. “The fuel price shock is expected to dissipate in 2023, but the second round of spillover effect continues to happen, and the forecasted GDP growth rate of 6.7 percent for the year will cause CPI to increase to 4 percent in 2023 before dropping to 3.3 percent in 2024,” the report said. According to WB experts, with travel restrictions lifted and international tourists gradually returning, the service sector has been recovering strongly. Export growth of manufactured and processed industrial products … [Read more...] about WB releases report ‘Educate to Grow’ on Vietnamese economic situation

At the press conference to release the report. (Photo: WB Vietnam) According to the latest economic update by World Bank (WB) for Vietnam, the country’s economy expanded 5.2 percent in Q4 of 2021, and respectively 5.1 percent and 7.7 percent in Q1 and Q2 of 2022. Inflation is projected to average 3.8 percent over the year. Carolyn Turk, WB Country Director for Vietnam, said that the bi-annual report “lays out a set of policy recommendations that could help mitigate the impact of these risks and make the economy more resilient going forward.” Titled “Taking Stock: Educate to Grow”, this edition underlines transforming the higher education system as the key to boosting the country’s productivity and achieving its development goals, in the context where the country re-emerges from the pandemic and into a challenging global environment. The report’s co-author Dorsati Madani said that while Vietnam’s economic recovery had been relatively stable, not all sectors witnessed the same … [Read more...] about Vietnam’s economic growth forecast at 7.5 percent in 2022: World Bank

In long term, transforming the higher education system will be key to boosting Vietnam’s productivity and helping achieve its goal of becoming a high-income country by 2045. Vietnam’s GDP growth is forecast to surge from an estimated 2.6% in 2021 to 7.5% in 2022, with backing from resilient manufacturing and a robust rebound in services. Overview of the event. Photo: Nguyen Tung Country Director for the World Bank in Vietnam Carolyn Turk revealed the figures at the launch of its bi-annual economic outlook for Vietnam titled “Taking Stock: Educate to Grow” today [August 8]. According to Turk, the global economy has been experiencing a series of very large and negative shocks, including ongoing Covid-19-related disruptions and supply shocks associated with the Russia-Ukraine conflict. In this context, Vietnam’s economy has shown “relative resilience and staged a strong rebound after last year’s Covid-19 induced slowdown,” Turk said. Vietnam’s economic … [Read more...] about Vietnam’s GDP growth set to expand by 7.5% in 2022: World Bank