The World Bank has released its August 2024 Taking Stock Report in which it forecasts GDP growth in Vietnam of 6.1 percent this year. This is a significant bump from a forecast of just 5.5 percent in the bank’s April Taking Stock Report.
This revised projection is based on:
- Expected slower export growth in the second half of 2024 after a bumper first half;
- That there are signs of recovery in Vietnam’s real estate market on the back of a thawing in the corporate bond market and the implementation of the new Land Law;
- Stabilising domestic demand with improved investor and consumer sentiment; and
- An expected small current account balance surplus.
See also: Vietnam’s Economy in the First Half of 2024: Unpacked