Tuesday, March 28, 2023 7:17:52 PM - Markets open
VN-INDEX 1,054.29 +2.04/+0.19%
HNX-INDEX 205.76 -0.91/-0.44%
UPCOM-INDEX 75.58 -0.10/-0.13%
Standard Chartered forecast Việt Nam 2023 GDP growth at 7.2 per cent
Vietnamnews - 1/11/2023 3:02:26 PM
 (0 ratings. You must sign in to rate.)
 Standard Chartered Bank forecasts Việt Nam’s economic growth at 7.2 per cent in 2023 and 6.7 per cent in 2024, following a solid recovery to 8.0 per cent in 2022.
 
The forecast is highlighted in the bank’s recently published global research report on Việt Nam titled “Việt Nam – Still enjoying high-growth status”.
 
“We still have a conviction on Việt Nam’s high growth potential over the medium term,” said Tim Leelahaphan, Economist for Thailand and Việt Nam, Standard Chartered. “While macro indicators moderated somewhat in Quarter 4 2022, they remain largely robust. Retail sales posted solid growth in the second half of 2022, implying improved domestic activity.”
 
According to Standard Chartered’s economists, trade balance has tentatively improved; exports may face global headwinds; imports are at risk of reversal. FDI disbursements have continued to increase, but the outlook hinges on the global economy. Inflation may pose a threat to Việt Nam’s continued recovery.
 
Inflation is anticipated to rise throughout 2023, potentially reaching 6 per cent in the final months of the year and averaging 5.5 per cent in both 2023 and 2024 (from 3.2 per cent in 2022). Việt Nam’s fiscal deficit may persist and be a source of inflation.
 
Standard Chartered Bank expects the State Bank of Vietnam (SBV) to hike rates by another one per cent in Quarter 1 2023 and to stay on hold through end-2024 as it shifts to a tightening stance with a view to maintaining stability.
 
“We expect the central bank to stay vigilant against inflation, a weakening Vietnamese đồng, and financial instability arising from risky loans in the real-estate sector. The SBV may prefer a relatively strong Vietnamese đồng, as long as it does not harm the country’s trade competitiveness,” said Tim Leelahaphan, Economist for Thailand and Việt Nam, Standard Chartered.
 
According to Tim, the Vietnamese đồng has recovered sharply in recent weeks, however, the pace of Vietnamese đồng appreciation is likely to slow down, as several headwinds persist. The replenishment of FX reserves is likely to be a key priority for the central bank. An improving Current Account backdrop and tourism recovery is likely to be supportive to the Vietnamese đồng. USD-VND is forecast at 23,400 by end-2023 and 23,000 by end-2024. VNS
 
Read original article here
Newer News
16:47 Việt Nam's foreign investment plunges 39 per cent in Q1
27/03 Việt Nam's retail market proves attractive for foreign investors
24/03 Steel price rises despite falling demand
24/03 Health and vehicles to be main growth drivers for non-life insurers in 2023
24/03 Conference to promote trade and cooperation between Việt Nam and Mexico
22/03 Investors voice concerns over unresolved pricing for renewable projects
21/03 US businesses exploring investment, business opportunities in Việt Nam
21/03 Imported cars should be included in registration fee reduction scheme
20/03 US businesses exploring investment, business opportunities in Việt Nam
17/03 Trade recovers strongly since reopening
Older News
11/01 IMF commends Việt Nam’s macro-economic stabilisation policies
09/01 Việt Nam affirms position in international integration
09/01 Hong Kong firms seek more cooperation opportunities in Việt Nam
04/01 Environmental fuel tax to stay fixed until the end of the year
04/01 Seafood exports reach record $11b in 2022, challenges ahead
04/01 VN needs VNĐ16-18 trillion to develop inland container depots to 2030
31/12 Number of newly-registered, reoperating firms up over 30% in 2022
27/12 HSBC raises Việt Nam’s 2022 economic growth forecast to 8.1 per cent
21/12 Low disbursement of public investment sourced from foreign borrowing
16/12 Việt Nam's new import-export turnover record set
 
Newsletter Signup
Top Stories
VN-Index extends its long winning streak
Steel price rises despite falling demand
Central bank makes first rate cut since 2020 to support economic growth
Domestic investors open less than 100,000 new accounts in the first 2 months
MSN: Masan secures up to $650m syndicated loan, redeems $126.3m bonds
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,054.29 +2.04/+0.19%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.