Vietnam's economic growth rate surpasses several countries in the region, with a per capita GDP exceeding $4,300. Has Vietnam entered the high middle-income group?

The Vietnamese economy is likely to expand by close to 6% in 2024, driven by a recovering export sector, robust foreign direct investment, and policy support, the International Monetary Fund (IMF) said on June 26.

VN economic growth is predicted to expand by about 6.5 per cent this year based on numerous potentials, significant foreign direct investment, and ongoing efforts to improve the business environment and infrastructure.

Vietnam will enjoy favourable conditions to fuel its economic recovery this year despite the global moderate growth forecast, said Paulo Medas, head of the International Monetary Fund (IMF) team to Vietnam.

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.

Prime Minister Pham Minh Chinh met with Managing Director of the International Monetary Fund (IMF) Kristalina Georgieva on the sidelines of the 43rd ASEAN Summit and Related Meetings in Jakarta, Indonesia, on September 4.

Vietnam can return to high growth rates over the medium term, as structural reforms are implemented, Division Chief of the International Monetary Fund (IMF)’s Fiscal Affairs Department Paulo Medas has said.

PM Pham Minh Chinh has suggested the IMF continue with policy counselling for the Vietnamese Government regarding economic management and improvement of tools and policies related to fiscal, monetary and financial restructuring.

Prime Minister Pham Minh Chinh hosted a reception in Hanoi on January 10 for Deputy Managing Director of the International Monetary Fund (IMF) in charge of the Asia-Pacific Antoinette Sayeh, who is on her first working visit to Vietnam.

Foreign experts have appreciated Vietnam’s economic governance policies to help well control the impact of imported inflation, given increasing inflation in many countries around the world.

Vietnamese GDP growth is projected to surge by 7% this year, thereby taking the lead among the group of five emerging markets in Southeast Asia, according to IMF's World Economic Outlook Report for October.

Vietnam is anticipated to be placed among the top 15 with the largest GDP based on purchasing power parity (PPP) in Asia this year, according to the latest projections made by the International Monetary Fund (IMF).

The International Monetary Fund (IMF) has forecast Vietnam’s GDP to grow at around 3.8% this year, higher than that of its regional peers, Malaysia, Thailand, the Philippines, and Indonesia.

Instead of staying idle and waiting for the pandemic to be contained, many businesses in Vietnam are making investments, training workers and laying down the foundation to make a breakthrough when the Covid-19 pandemic is over.

The prolonged COVID-19 pandemic is forecast to keep hampering Vietnam from reducing inflation this year, despite the strong efforts to stimulate fiscal and monetary policies.

China’s Newsweek ran an article recently highlighting the positive outlook for Vietnam’s economy.

The country would remain the only one with positive growth among five major economies in ASEAN, and its economic growth would rebound to 6.7% in 2021.

The International Monetary Fund (IMF) maintains its forecast for Vietnam’s GDP growth at 2.7% in 2020, the highest in Asia, and the pace is expected to speed up to 7% in 2021.

If the Vietnamese economy is able to successfully enjoy a rapid economic recovery following the conclusion of the novel coronavirus (COVID-19) pandemic, the retail industry will be one of the driving factors in this revival process.