According to the World Bank’s East Asia and Pacific Economic Update April 2020, Viet Nam is strongly positioned to benefit from numerous free trade agreements that are coming into force over the forecast period. In the first two months, its exports have expanded by 8%, FDI inflows amounted to US$2.5 billion and retail sales were up by 5.4%, the bank said, noting that while prospects remain favorable for the Vietnamese economy in the medium term, GDP growth will be affected negatively by the recent coronavirus outbreak, now a global pandemic. The WB cited preliminary estimates as suggesting that the rate of expansion of the economy could decline to about 4.9% in 2020. Over the medium term, growth is projected to rebound back to 7.5% in 2021 and converge at around 6.5% in 2022, reflecting an improved external demand and a firming of the services sector, as well as a gradual recovery in agricultural production, the WB added. It also suggested Viet Nam manage external risks by … [Read more...] about WB: Vietnam’s economy stays resilient to external shocks
