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Part I. Recent Economic Developments and Prospects
Vietnam had a turbulent year in 2021. Despite a strong start in the first semester, the COVID-19 outbreak in April derailed recovery and led to extensive human and economic costs. Vietnam’s economy is estimated to grow by 2.58 percent for the year.
Looking ahead, GDP is expected to rebound to 5.5 percent growth in 2022 in a scenario where the pandemic is under relative control both at home and abroad. The rebound of the economy will be supported by a more accommodating fiscal policy, at least in the first part of 2022.
In the medium term, full recovery of the economy to a pre-pandemic level is only expected in 2023, with the full recovery of domestic demand and barring new shocks.
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