Vietnam's economy to grow at 6 pct in Q2: UOB-Xinhua

Vietnam's economy to grow at 6 pct in Q2: UOB

Source: Xinhua

Editor: huaxia

2024-06-11 19:22:15

HANOI, June 11 (Xinhua) -- Vietnam's economic growth in the second quarter of 2024 will edge up to 6 percent from 5.66 percent in the first quarter, according to the latest forecast of Singapore-based United Overseas Bank (UOB).

UOB maintained the previous forecast at 6 percent for the full year on increasing chip-making demand, the recovery of Chinese and regional economies, as well as ongoing supply chain shifts, Vietnam News Agency reported Tuesday.

Inflation in 2024 is forecast to be controlled at 3.8 percent.

The bank expected the Vietnamese economy to grow at 6.4 percent in 2025.

The Vietnamese government has set a gross domestic product (GDP) growth target of 6-6.5 percent this year.