The IMF noted with significant credit plans to boost public investment disbursement and effectively control inflation risks.
Vietnam’s economy is forecast to recover this year thanks to continued strong external demand, stable foreign direct investment and looser policies, according to the Executive Board of the International Monetary Fund (IMF).
The organization commended the authorities for taking swift action to maintain macro-financial stability as the post-pandemic economic recovery faces headwinds both domestically and internationally.
The IMF also noted significant plans to boost public investment disbursement and effectively control inflation risks, along with prompt actions to limit risks in the real estate and corporate bond markets.
However, the IMF also noted that exports - the main driver of Vietnam's economy - could weaken if global growth falls short of expectations or geopolitical tensions or trade disputes increase.
The report stressed that sluggish real estate and corporate bond markets also affected the operations of banks, undermining financial stability.
The IMF assessed that the Vietnamese Government has responded quickly to stabilize the macroeconomy when the post-pandemic recovery process faces many challenges at home and abroad. The organization also welcomed Vietnam's revision of the Law on Credit Institutions, the promulgation of the Power Master Plan VIII and the plan to build an Emissions Trading System to achieve climate goals and promote energy security.
However, experts recommend that Vietnam deepen reforms and ensure green, inclusive growth in the medium term. Public investment and social protection expansion should also be stepped up. The fiscal framework, budget preparation and revenue raising processes in the medium term need to be strengthened to support the development plan.
The IMF believes that in the coming time, authorities should continue to be cautious in operating monetary policy and increasing the resilience of the financial system.
According to PV/VTV
Source: https://doanhnghiepvn.vn/kinh-te/imf-lac-quan-ve-trien-vong-tang-truong-kinh-te-viet-nam/20241002080018846
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