Vietnam's economy maintains a very positive recovery momentum.

Standard Chartered Bank forecasts that Vietnam's Gross Domestic Product (GDP) growth in the second quarter of 2024 will reach 5.3% year-on-year.

The Vietnamese economy possesses a solid foundation and strategic momentum to continue growing in 2024. (Illustrative image. Source: Vietnam Insider)

This information was provided by economic experts from Standard Chartered Bank in their latest economic update report on Vietnam.

Accordingly, in June 2024, retail sales growth is projected to slow to 8.2% year-on-year, export growth to slow to 14.2% year-on-year, and electronics exports are expected to continue improving this year.

Imports and industrial production are likely to reach 26.0% and 5.2% year-on-year, respectively, in June.

Meanwhile, inflation could rise to 4.5% year-on-year in June – marking the third consecutive month of inflation above 4%.

Prices for education , housing and building materials, healthcare, and food have fueled inflation recently. This trend is likely to continue in the coming months.

Tim Leelahaphan, Vietnam and Thailand economist at Standard Chartered, said: “Although growth is likely to slow in Q2 2024, we believe Vietnam will maintain a very positive recovery momentum.”

The economy may still face challenges in the third quarter of 2024, amid price pressures, exchange rate fluctuations, and declining global demand.

Source: https://baoquocte.vn/chuyen-gia-standard-chartered-kinh-te-viet-nam-giu-da-phuc-hoi-rat-kha-quan-276011.html