Fitch Ratings optimistic about Vietnam's economic growth

Credit ratings agency Fitch Ratings on November 9 forecast Vietnam’s GDP growth to accelerate to 6.3% in 2024 and 7.0% in 2025.

Domestic fiscal and monetary policies have pivoted to provide growing support to the economy, the agency said.

It noted that the country’s growth slowed to 4.3% in the first nine months of this year amid weak external demand and lingering headwinds in the domestic property sector.

Earlier, Standard Chartered Bank maintained robust 2024 GDP growth forecast of 6.7% for Vietnam in its latest macro-economic updates about the Southeast Asian nation.

Experts from the International Monetary Fund (IMF) also expressed their optimism about the medium-term prospects, with the national GDP growth predicted to reach 5.8% in 2024 and 6.9% in 2025.

The 15th National Assembly (NA) on November 9 adopted a resolution on the socio-economic development plan for 2024, which sets a target of 6.0 - 6.5% growth in GDP for the year, as part of its ongoing sixth sitting.