The country’s GDP is projected to grow at 7.5 per cent in the worst-case scenario as long as several challenges and uncertainties are expected in the fourth quarter of 2022.

Moreover, the nation’s economy is predicted to grow about 6.5 per cent in 2023, noted the ministry of planning and investment (MPI) at a recent routine government press briefing.

Vietnam’s GDP in the base-case scenario will touch 8 per cent in 2022 if only there would be no upheavals in the market but favourable external factors for the economy for the remaining months of the year, according to the country’s deputy minister Tran Quoc Phuong. The country’s GDP is projected to grow at 7.5 per cent in the worst-case scenario.

Inflation is anticipated to impact both major economies and Vietnam’s important partners for the coming month or two, and continue in 2023, Phuong was quoted as saying by various Vietnamese media reports. The Vietnamese economy is also expected to be at risk of events like the current Russia-Ukraine crisis or natural disasters such as epidemics, storms, and flooding.

Fibre2Fashion News Desk (NB)