The IMF predicts that Vietnam's economic growth rate will be 5.8% in 2023

According to the April 24th daily report on the website of Vietnam News Agency, the International Monetary Fund (IMF) recently predicted that Vietnam's GDP growth rate will reach 5.8% in 2023, ranking second among ASEAN countries with Cambodia, only behind the Philippines. By 2024, Vietnam's GDP growth rate is expected to rebound to 6.9%, the highest in Southeast Asia.

The IMF stated that compared to other ASEAN member countries, Vietnam's public debt is expected to remain at its lowest level, dropping from 47.5% in 2016 to 31.3% in 2028, reaching its lowest level in 20 years. In addition, the IMF predicts that Vietnam's inflation levels will be 5% and 3% in 2023 and 2024, respectively.

According to reports, recently, the National Bank of Vietnam has continuously lowered benchmark interest rates, guiding credit institutions to lower loan rates and stimulating economic growth. Experts predict that the one-year deposit interest rate will be around 7%, and the average loan interest rate will be around 10%. In addition, due to the poor performance of GDP growth in the first quarter, the National Bank of Vietnam may adopt a more relaxed monetary policy in the future, and may continue to lower policy interest rates in the second quarter to support recovery.