Vietnam’s 2023 economic scenarios mapped out

The Central Institute for Economic Management (CIEM) under the Ministry of Planning and Investment has sketched out two scenarios for the Vietnamese economy in 2023.
Vietnam’s 2023 economic scenarios mapped out ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) – The Central Institute forEconomic Management (CIEM) under the Ministry of Planning and Investment hassketched out two scenarios for the Vietnamese economy in 2023.

Under the first, the national GDP will grow 6.47%, inflation 4.08%, and export 7.21%, and trade surplus is projected at 5.64 billion USD, heard a workshop inHanoi on January 12.
The figures are set at 6.83%, 3.69%, 8.43% and 8.15billion USD under the second.

CIEM Director Tran Thi Hong Minh said Vietnam stayedupdated on assessments and recommendations last year in order to maintain macro-economic stability, rein in inflation, and facilitate reform andsocio-economic recovery and development.

Such efforts paid off as the national GDP grew 8.02%in 2022, the highest in the 2011-2022 period, outpacing the target of 6.5% setby the National Assembly, and inflation was curbed at 3.15%, below the 4% projectedearlier, she noted.

Nguyen Anh Duong, head of the CIEM's GeneralResearch Department, presented a report on Vietnam’s economy in 2022 andprospects in 2023, which said there would be more impacts on the economy thisyear, such as tight monetary policies adopted by major economies in response toinflation pressure, rising geo-political competitions between big economies andthe Russia-Ukraine conflict.

Dennis Quennet, Chief Advisor of the MacroeconomicReforms/Green Growth Programme in Vietnam run by the German Agency for SustainableDevelopment (GIZ), lauded Vietnam for its impressive growth in 2022.

However, many of Vietnam’s economic partners have toface multiple difficulties and challenges in 2023, he pointed out, suggestingthe Southeast Asian country assess its growth quality to make suitableadjustments in order to create momentum in the year./.
VNA

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