Macro Outlook Report

Solid inner strength

Intensified inflation pressures in 2Q22

Bouncing back from pandemic crisis

Public investment is the main driver

Exportation is a bright spot

GDP growth in 2021 should slightly go down to 6.5% from the previous level of 6.6%

Out of the woods

Vietnam GDP growth in the first nine months of the year hit 20-year lows, but the recovery in agricultural sector, manufacturing and domestic consumption amid the COVID-19 was a bright spot that helped Vietnam become one of the few countries in the world with positive economic growth

2020E GDP growth at 3.0% given recoveries in domestic consumption and public disbursement

+ Public investment acceleration + EVFTA effective from 2Q20 Risks: + Demand-supply shocks by COVID-19 + Economic growth forces interrupted