- Photo: Reuters file
HANOI: The Vietnamese economy is likely to expand by close to 6 percent in 2024, driven by a recovering export sector, robust foreign direct investment and policy support, Vietnam News Agency reported Thursday (June 27), citing the International Monetary Fund (IMF).
According to the bank, exports, a key driver for the national economy, could weaken if global growth disappoints, global geopolitical tensions persist, or trade disputes intensify, said the bank.
"Domestically, persistent weakness in the real estate sector and corporate bond market could weigh more than expected on banks' ability to expand credit," said the bank.
Earlier, the IMF forecast that Vietnam's gross domestic product (GDP) will reach about 469.7 billion U.S. dollars by the end of 2024, ranking fifth in Southeast Asia.
The country recorded year-on-year GDP growth of 5.66 percent in the first quarter of this year, according to the General Statistics Office. - Xinhua/ANN
