Vietnam has posted GDP growth of 7.72% in Q2 this year. (Photo: VNA)It wrote that with export and consumption recovery, theVietnamese economy rebounded strongly in Q2, with gross domestic product (GDP)increasing 7.72% year on year – the fastest pace in almost 11 years.
This is expected to boost the GDP growth in the first half of2022 to 6.42% from a year earlier, beyond the Government’s 5.5% expectation. Thecountry recorded a growth rate of only 2.04% in the same period last year.
Unveiling the statistics on June 29, the General StatisticsOffice (GSO) of Vietnam stressed that compared to other ASEAN members andcountries in the world, this is a relatively high growth rate, and that thecountry has also maintained macro-economic stability, according to Lianhe Zaobao.
The article noted since Vietnam gradually liftedanti-COVID-19 measures in late 2021, domestic industries and factories havecompletely resumed operations, driving the strong recovery of manufacturing andexport activities.
In H1, export turnover rose 17.3% year on year to 185.94 billion USD whileindustrial production was up 8.7%.
Meanwhile, Bloomberg said underpinning the recovery hasbeen the government’s 15 billion USD worth of fiscal stimulus, and aneasy monetary policy. That’s helped boost the competitiveness of the SoutheastAsian nation which is emerging as an attractive alternative destination forforeign investment.
The GSO also warned that Vietnam’s economy may face manychallenges in the latter half of the year such as inflation, global politicaluncertainties, and pandemic aftershocks.
A World Bank report released earlier this month recommendedthe country stay vigilant against inflation risks such as surging fuel and importprices which may hamper the recovery trend of domestic demand./.
VNA
