2024 Vietnam GDP growth forecast at 6.1% by World Bank, with rebounding exports and tourism, banking asset quality concerns.
Vietnam's GDP growth is projected to reach 6.1% in 2024, with rebounding manufactured exports and tourism driving growth, according to the World Bank. Bank asset quality remains a concern, with rising non-performing loans. The economy is expected to grow 6.5% in 2025 and 2026. The bank recommends deepening structural reforms, increasing public investment, and closely monitoring bank asset quality to sustain economic growth. Vietnam's goal of becoming a high-income nation by 2045 could be further supported by developing capital markets as a long-term funding source. Challenges include underdeveloped institutional investor bases and underutilization of the Vietnam Social Security fund.
August 26, 2024
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