ADB forecasts Vietnam’s economic growth at 1.8 percent in 2020

(VOVWORLD) - Vietnam’s economy is forecast to expand 1.8 percent in 2020 amid the coronavirus pandemic and bounce back in next year. 

Economies across developing Asia will contract this year for the first time in nearly six decades but recovery will resume next year, according to a recent report released by the Asian Development Bank (ADB).

According to an ADB economist, Vietnam’s economy is expected to bounce back to 6.3 percent in 2021.

The report says Vietnam is recovering faster than similar economies in the region, thanks to the involvement of bilateral and multilateral trade agreements.

Meanwhile, the US’s Diplomat magazine ran an article on September 19 praising the role of the Communist Party of Vietnam in assuring the security of the economy.