{"id":11051,"date":"2021-08-25T15:59:43","date_gmt":"2021-08-25T07:59:43","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=11051"},"modified":"2021-08-25T15:59:45","modified_gmt":"2021-08-25T07:59:45","slug":"vietnam-forecast-to-grow-by-4-8-percent-in-2021-world-bank","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=11051","title":{"rendered":"Vietnam forecast to grow by 4.8 percent in 2021 – World Bank"},"content":{"rendered":"\n

HANOI, Aug 25 —\u00a0The World Bank (WB) has projected Vietnam \u2019s GDP to expand by 4.8 percent in 2021, two percentage points lower than its previous prediction in December 2020.<\/p>\n\n\n\n

The figure was released at a press conference held on August 24 to announce the latest edition of Taking Stock \u2013 the WB\u2019s biannual update on Vietnam\u2019s economic performance, Vietnam news agency (VNA) reported.<\/p>\n\n\n\n

The update highlights impacts on the economy associated with the most recent COVID-19 outbreak and the mobility measures adopted by the government to contain the pandemic.<\/p>\n\n\n\n

\u201cWhether Vietnam\u2019s economy will rebound in the second half of 2021 will depend on the control of the current COVID-19 outbreak, the effective vaccine rollout, and the efficiency of the fiscal measures to support affected business and households, and to stimulate the recovery,\u201d Rahul Kitchlu, World Bank Acting Country Director for Vietnam, said in the WB’s press release on August 24.<\/p>\n\n\n\n

\"vietnam\"<\/figure><\/div>\n\n\n\n

\u201cWhile downside risks have heightened, economic fundamentals remain solid in Vietnam, and the economy could converge toward the pre-pandemic GDP growth rate of 6.5 to 7 percent from 2022 onward,\u201d Kitchlu added.<\/p>\n\n\n\n

The report suggests that the authorities should address the social consequences of the COVID-19 crisis by improving the depth and effectiveness of social protection programs. They should also watch out for rising risks in the financial sector, while greater attention should be given to fiscal policy since policymakers will need to find the right balance between the need to support the recovery of the economy and the necessity to maintain a sustainable level of public debt.<\/p>\n\n\n\n

In addition to analysing the recent trends of the economy, this edition, titled \u201cDigital Vietnam – The Path to Tomorrow\u201d, focuses on what Vietnam needs to do to realise its ambition of becoming one of the most advanced digital economies in the world.<\/p>\n\n\n\n

The COVID-19 crisis has accelerated the digital transformation of the local economy as an increasing number of businesses in Vietnam are now offering their services online. The government has also enhanced the digitalisation of its procedures and databases.<\/p>\n\n\n\n

— BERNAMA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

HANOI, Aug 25 —\u00a0The World Bank (WB) has projected Vietnam \u2019s GDP to expand by…<\/p>\n","protected":false},"author":1,"featured_media":11040,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,17],"tags":[],"class_list":["post-11051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia","category-economy"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/08\/Screen-Shot-2021-08-25-at-11.24.05.png",590,366,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/08\/Screen-Shot-2021-08-25-at-11.24.05-150x150.png",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/08\/Screen-Shot-2021-08-25-at-11.24.05-300x186.png",300,186,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/08\/Screen-Shot-2021-08-25-at-11.24.05.png",590,366,false],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/08\/Screen-Shot-2021-08-25-at-11.24.05.png",590,366,false],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/08\/Screen-Shot-2021-08-25-at-11.24.05.png",590,366,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/08\/Screen-Shot-2021-08-25-at-11.24.05.png",590,366,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/08\/Screen-Shot-2021-08-25-at-11.24.05.png",590,366,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/08\/Screen-Shot-2021-08-25-at-11.24.05.png",590,366,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/08\/Screen-Shot-2021-08-25-at-11.24.05.png",590,366,false]},"author_info":{"info":["Editor"]},"category_info":"Asia<\/a> Economy<\/a>","tag_info":"Economy","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/11051","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11051"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/11051\/revisions"}],"predecessor-version":[{"id":11052,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/11051\/revisions\/11052"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/11040"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}