Vietnam's economy to expand 8.1 pct this year: HSBC
Source: Xinhua | 2022-12-23 | Editor:Lexi
British multinational investment bank HSBC has raised Vietnam's growth forecast from 7.6 percent to 8.1 percent this year but revised down the forecast for next year from 6 percent to 5.8 percent, local media reported on Thursday.
The 2022 growth still benefits from the advantages in Vietnam's post-pandemic reopening, but challenges will have heavier impacts on the country next year, especially when the effects of reopening are fading and the impacts of high inflation are clearer, Vietnam News Agency cited HSBC as reporting.
Vietnam made a booming recovery in 2022, which makes it more likely to continue to be one of the countries with outstanding growth in Asia.
Vietnam has started to witness stronger inflation pressure and might also witness a domestic energy shortage, causing inflation to rise, the news agency cited the bank as saying.
Although HSBC recently slightly lowered its inflation forecast for Vietnam in 2022 from 3.4 percent to 3.2 percent, it has also raised its inflation forecast for 2023 to 4 percent instead of the previously projected 3.7 percent, it said.
The World Bank has forecast that Vietnam's gross domestic product growth will reach 7.2 percent this year.
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