Vietnam’s economic growth accelerates on back of exports: Bloomberg
Vietnam’s economic growth accelerated faster than expected in the second quarter of this year, as a recovery in exports and manufacturing helped offset risks from coronavirus outbreaks and rising oil prices, Bloomberg reported.
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| Vietnam’s economic growth accelerated faster than expected in the second quarter of this year. (Source: vneconomy) |
That was quicker than the median estimate for a 5.9% gain in a Bloomberg survey, and the highest level since at least the first quarter of 2013.
Bloomberg reported the gains in momentum coincide with Vietnam emerging as one of the alternative destinations for foreign investment amid trade disruptions from China’s lockdowns, the war in Ukraine, and lingering tensions between Beijing and Washington.
The economy also benefited from fiscal stimulus worth about 15 billion USD, and an easy monetary policy that makes the State Bank of Vietnam one of the last few to resist the global tightening cycle, it said.
(Source: VNA)
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