Home ›› 13 Sep 2022 ›› Asia Biz
Vietnam’s gross domestic product growth is expected to be above 7per cent in the third quarter, its government said on Monday, while warning of challenges ahead and the possibility of external shocks.
The regional manufacturing hub’s GDP accelerated to 7.72per cent in the second quarter from 5.05per cent in the first quarter. It has set an official economic growth target of 6.0per cent to 6.5per cent for this year.
The government said it had maintained macroeconomic stability so far this year amid global uncertainty, but the economy was still facing obstacles and remains vulnerable to changes in the global economic environment.
“Vietnam’s economy is a small but open one with limited resilience, so a small external shock could leave an adverse impact on it,” the government said in a statement, referring to global inflationary pressure.
Vietnam’s consumer prices in August rose 3.6per cent from end-2021. The government has targeted inflation at below 4per cent this year.
