World's top growth contributors in 2024, according to IMF data, in a Bloomberg report. Viet Nam is likely to fall off the list by 2024.— Photo bloomberg.com
Other large economies such as Japan and the UK stand to lose their ranking to emerging economies such as Brazil and Russia with the UK’s growth suffering a heavy blow from the effect of Brexit, falling from ninth place to 13th.
Viet Nam, however, is unlikely to retain its place among the top 20 countries over the next five years as it’s facing numerous daunting challenges to sustain the rapid growth it has experienced in previous years. Indonesia, Malaysia, the Philippines and Thailand, on the other hand, are projected to stay right on track of their impressive growth path.
In addition, the IMF’s data showed the global growth engines in five years include Canada, Mexico, Pakistan, Poland, Saudi Arabia, Spain and Turkey. — VNS