Vietnam to place 5th in global economic growth

by VTV431 July 2020 Last updated at 14:47 PM

Vietnam to place 5th in global economic growth - Vietnam's economic growth for 2020 will rank 5th globally, according to World Bank.

Specifically, the WB forecast that Vietnam's GDP will reach 2.8% this year and 6.7% in 2021 if the world's economy gradually improves. However, even if the global economy does not recover, Vietnam's growth would still reach 1.5% this year and 4.5% in 2021.

The WB also said that the impact of the pandemic on Vietnam's economy is less than other nations thanks to the country's early response. This is considered a prime opportunity for Vietnam to increase its presence in the global economy and become the leading nation in digital technology.

According to The WB's experts, Vietnam's biggest challenge now is to find new growth stimulants to strengthen its recovery process.