Viet Nam’s growth rate targets of 6.3 per cent in 2022 and 6.8 per cent in 2023 are feasible, but greatly rely on how the pandemic develops over the next two years.
The State Bank of Viet Nam (SBV) will continue to allocate credit growth
rates for commercial banks this year, based on the banks'' health and
business performance.
After three consecutive years of trade surplus, Viet Nam will likely
experience a trade deficit next year, the Ministry of Industry and Trade
predicted at a meeting last Monday.
Viet Nam could see lower growth rates due to tighter US monetary policy
and a slowdown in China''s growth, but currency devaluation, robust
consumption and government spending will help protect growth rates,
according to the latest report from accountancy institution ICAEW.