The Singapore-based United Overseas Bank (UOB) has kept its forecast for Vietnam’s GDP growth in 2023 unchanged at 6.6% in line with the official forecast of 6.5%, although growth momentum is likely to be weaker. In its report on Vietnam’s economic growth in the last quarter of 2022 and prospects for 2023, the bank said Vietnam’s real GDP growth in the fourth quarter of 2022 returned to normal at 5.92% year on year, due to signs of a decline in external demand. There was a sharp increase of 13.67% in the third quarter.

UOB experts said that the strong growth thanks to its manufacturing and service industries in 2022 shows Vietnam’s resilience after the impact of the COVID-19 pandemic.

The bank said the inflation rate is likely to remain stable, especially in the first half of 2023 thanks to the flexible management of monetary policy by the State Bank of Vietnam.

Source: VOV5