Vietnam targets 7% GDP growth 2022

The Vietnamese government aims for 7% economic growth in 2022, higher than the official target previously set of 6% to 6.5%.

To achieve this, year-over-year economic growth in the third quarter must be 9.0% and in the fourth quarter 6.3%.

Thanks to the surplus in the budget, Vietnam was able to use fiscal policy to support businesses and residents.

Credit institutions will need to further reduce interest rates on loans to reduce the pressure on input costs for businesses and the economy,

The country began removing the restrictions at the end of last year, allowing factories to resume full operations.

In 2021, the economy grew by 2.58%, which was the slowest rate in decades.

Supported by strong export growth, Vietnam's GDP grew 7.72% during the second quarter, although the inflation rate is expected to rise throughout 2022.