Illustrative image (Photo: VNA) Hanoi (VNA) – The Central Institute for EconomicManagement (CIEM) introduced two scenarios for Vietnam’s economic growth 2021during a seminar held in Hanoi on January 15.
The event was co-hosted by the CIEM and the AustraliaSupports Economic Reform in Vietnam (Aus4Reform).
Accordingly, Vietnam could achieve a growth rate of 5.98percent in the first scenario and 6.46 percent in the second scenario. Theaverage inflation was estimated at 3.51 percent and 3.78 percent, respectively.
Export was expected to grow by 4.23 percent in the firstscenario and 5.06 percent in the second scenario. Trade surplus was forecast tostand at 5.49 billion USD and 7.24 billion USD, respectively.
Nguyen Anh Duong, head of the CIEM's General Research Department, said the forecast is based onseveral risks in 2021, including COVID-19 vaccine accessibility, uneveneconomic recovery in partner markets, monetary loosening in several Asian nationsand more trade defence measures in importing nations.
CIEM experts said the domestic economy will be affected byseveral factors this year such as the fourth Industrial Revolution and the rapiddevelopment of digital transformation, as well as stronger consumption demand.
According to them, Vietnam could face trade defence lawsuitsand investigations on tax avoidance and origin fraud not only in the US market.
They stressed that it is necessary to focus on improvingmacro-economic foundation and reforming economic institutional system incombination with effectively dealing with risks in the “new normal” context.
Integration, reform and sustainable development must beclosely intertwined, CIEM Director Tran Thi Hog Minh said.
Experts discussed macro-economic situation in the last halfof 2020 and the whole year, economic prospect for 2021, proposed orientationsto economic reform as well as measures for macro-economic management for2021./.
The event was co-hosted by the CIEM and the AustraliaSupports Economic Reform in Vietnam (Aus4Reform).
Accordingly, Vietnam could achieve a growth rate of 5.98percent in the first scenario and 6.46 percent in the second scenario. Theaverage inflation was estimated at 3.51 percent and 3.78 percent, respectively.
Export was expected to grow by 4.23 percent in the firstscenario and 5.06 percent in the second scenario. Trade surplus was forecast tostand at 5.49 billion USD and 7.24 billion USD, respectively.
Nguyen Anh Duong, head of the CIEM's General Research Department, said the forecast is based onseveral risks in 2021, including COVID-19 vaccine accessibility, uneveneconomic recovery in partner markets, monetary loosening in several Asian nationsand more trade defence measures in importing nations.
CIEM experts said the domestic economy will be affected byseveral factors this year such as the fourth Industrial Revolution and the rapiddevelopment of digital transformation, as well as stronger consumption demand.
According to them, Vietnam could face trade defence lawsuitsand investigations on tax avoidance and origin fraud not only in the US market.
They stressed that it is necessary to focus on improvingmacro-economic foundation and reforming economic institutional system incombination with effectively dealing with risks in the “new normal” context.
Integration, reform and sustainable development must beclosely intertwined, CIEM Director Tran Thi Hog Minh said.
Experts discussed macro-economic situation in the last halfof 2020 and the whole year, economic prospect for 2021, proposed orientationsto economic reform as well as measures for macro-economic management for2021./.
VNA
