Vietnamese economy recovers rapidly thanks to drastic actions: IMF expert
(VOVWORLD) - Vietnam's economy recovered rapidly in the first half of 2024 after a challenging period at the end of 2022 and early 2023, thanks to its government’s drastic actions, according to Paulo Medas, head of the International Monetary Fund (IMF)’s 2024 Article IV Mission to Vietnam.
In a recent interview granted to the Vietnam News Agency in Washington D.C., Medas said that Vietnam’s economy rebounded and grew by 6.4% year-on-year in the first half.
He attributed this to thriving exports and actions taken by the government and the State Bank of Vietnam (SBV) such as reducing interest rates and increasing public investment and wages.
Regarding prospects for the second half, he forecast the Vietnamese economy will continue to recover, but at a slower pace, and may expand by over 6% for the whole year.
Medas warned of challenges including inflation, the aging population, climate change, and low productivity.