Vietnam's economic growth to slow to 4.7% this year: World Bank

Production at the Japanese-invested Nichirin Vietnam Co Ltd in the Quang Chau IP, Vietyen District. — VNA/VNS

HANOI (Vietnam News/Asia News Network): Vietnam’s real economic growth is expected to slow to 4.7 per cent this year before recovering to 5.5 per cent in 2024 and 6.0 per cent in 2025, according to Vietnam’s Macro and Poverty Outlook released by the World Bank on Monday (Oct 2).

According to the outlook, after last year’s strong rebound, the economy has been facing domestic and external headwinds in 2023. Weaker global growth and trade have dampened external demand for Vietnamese exports, in turn weighing on growth.