"New normal" adaptation leads to positive forecast for Vietnamese economy in 2022: official

In an interview with the Vietnam News Agency, Huong said the 2022 growth can be forecast based on such indicators as macroeconomics and major balances of the economy, creating a premise for more flexible and efficient fiscal and monetary policy management.

General Director of the General Statistics Office Nguyen Thi Huong

According to her, the post-pandemic economic development and recovery programme offering support packages through fiscal and monetary policies will be an opportunity for businesses and people to quickly recover from the pandemic.

Domestic demand will recover and increase gradually, as a proper part of the population have been fully vaccinated.

In the context of the epidemic, many industries and fields have turned to the application of information technology, creating new production and business forms that integrate technology to achieve higher productivity, quality, and efficiency.

In addition, major trade partners of Vietnam are on their ways toward recovery, pushing for stronger transactions in the near future. Meanwhile the EU-Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are likely to open up market accesses that facilitate larger trade and investment activities.

Processing shrimp for exports

The flow of direct foreign investment is projected to be sustained or expanded following Vietnam’s reopening of its international commercial flights.

Huong also noted that the inflation pressure for 2022 is high because when production and consumption demand increases, inflation will be affected by increasing global prices of raw materials.

Earlier, the National Assembly’s Resolution has set the growth target for 2022 at 6-6.5 percent.

Source: VNA