Vietnam to have many opportunities from digitalisation, green transformation: IMF
The International Monetary Fund (IMF) has forecasted that Vietnam will have many opportunities from digitalisation and green transformation, according to IMF Asia and Pacific Department Director Krishna Srinivasan.
IMF Asia and Pacific Department Director Krishna Srinivasan (Photo: IMF)
Washington D.C (VNA) – The International Monetary Fund (IMF) has forecasted that Vietnam will havemany opportunities from digitalisation and green transformation, according to IMF Asia and Pacific Department DirectorKrishna Srinivasan.
Addressing a pressconference on the Regional Economic Outlook for Asia and Pacific in Washington D. C on April 18, Srinivasan said Vietnam’s economic growth is likely to expandby about 6.5% based on numerous potentials, significant foreign direct investment,and ongoing efforts to improve the business environment and infrastructure.
According to theexpert, growth surprised on the upside in the second half of 2023, asrobust domestic demand fueled activity especially in emerging Asian economies.Malaysia, the Philippines, Vietnam, and, most notably, India recorded sizeablepositive growth surprises.
He stated that growthfor the region reached 5.0% in 2023 - much stronger than the growth of 3.9% in2022 - and is 0.4 percentage points higher than what IMF had projected in theOctober 2023 Regional Economic Outlook.
The fund projects the region to grow by 4.5% in2024 - an upward revision of 0.3 percentage points relative to October, sayingthat with this, Asia will contribute about 60% of global growth.
Srinivasan said thatpromoting growth depends on each country individually. In China and India, IMF expects investment tocontribute disproportionately to growth. Meanwhile, in emergingAsia outside China and India, robust private consumption will remain the maingrowth engine.
He also mentioned the monetary policy challenge, recommending that governments shouldfocus on consolidation to curb the rise in public debt and rebuild fiscalbuffers./.
Experts from the International Monetary Fund (IMF) maintained their forecast for Vietnam’s GDP growth at 4.7% in 2023 but expressed their optimism about the medium-term prospects, with GDP growth predicted to reach 5.8% in 2024 and 6.9% in 2025.
Overcoming the fluctuations from the global economic landscape and internal constraints in 2023, Vietnam's economy continued its trajectory of recovery, with inflation kept under control and key balances safeguarded.
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IMF Asia and Pacific Department Director Krishna Srinivasan (Photo: IMF) 
