Vietnam’s economy recovered rapidly in the first half of this year after a challenging period in late 2022 and early 2023, thanks to the government’s drastic actions. Paulo Medas, head of the International Monetary Fund’s 2024 Article IV Mission to Vietnam, has spoken to Vietnam News Agency’s correspondents in Washington D.C.
In a recent interview granted to the Vietnam News Agency in Washington D.C., Paulo Medas, head of the International Monetary Fund’s 2024 Article IV Mission to Vietnam, said Vietnam’s economy rebounded faster and increased by 6.4% year-on-year in January-June.
Regarding prospects for the second half, the expert forecast the Vietnamese economy 🦄will continue to recover, but✅ at a slower pace, and may expand by over 6% for the whole year.
The expert also pointed out several risks, including the currency depreciation and public wage rise, and suggested solutions to help Vietnam overcome challenges.
According to Medas, Vietnam needs to pay more attention to medium-term economic growth. The IMF is conducting an in-depth study on what could happen to medium-term growth in Vietnam.
The expꦅert recommended Vietnam push up with reforms to boost productivity and compensate for the demographic issue in the future.
He also suggested improving the business environment, upgrading infrastructure, particularly in energy and renewables, while accelerating reforms related to climate change response, and strengthening capital markets./.
