Vietnam GDP growth to reach 7.2%, top Southeast Asia: WB

Vietnam's economic expansion can hit 7.2% this year and 6.7% next year, the highest in Southeast Asia, the World Bank says Tuesday.

The bank's East Asia & Pacific economic update revised up Vietnam’s GDP forecast from 5.8% in early June.

The absolute GDP of Vietnam had exceeded the pre-pandemic level in 2020, along with China, according to the report. Meanwhile, other nations can only achieve that later, such as Indonesia and Malaysia in 2021; and Cambodia, Thailand, and the Philippines in 2022.

The WB also estimated Vietnam’s general government debt to GDP ratio at 40% in 2022, a healthy figure.

It projected the country's CPI, a gauge to measure inflation, at below 4% this year, which is the State Bank of Vietnam's target.

On September 21, the Asian Development Bank (ADB) put Vietnam’s growth prediction at 6.5% this year and 6.7% next year on strong economic fundamentals, key to fast recovery. The 2022 figure is the highest in Southeast Asia and equals the Philippines'.

Vietnam's economic expansion hit 6.42% in the first six months of the year, according to the General Statistics Office.