Singaporean outlet: Vietnam’s economy recovers faster than other countries' in region
	IMF: Vietnam boasts a successful example of how a developing country can fight a pandemic
	Vietnam News Today: Vietnam funded over USD21 million to fight climate change

In 2022, the IMF expects 4.2 percent growth. Last year, according to the fund's analysts, the world economy declined by 3.5 percent. (Photo: Zing News)

The International Monetary Fund has become more upbeat about the global economy, as coronavirus vaccinations are administered across the world. It is, however, worried about the risk new Covid variants pose to the post-pandemic recovery.

According to its latest World Economic Outlook, published Tuesday, the institution now expects the global economy to grow 5.5% this year - a 0.3 percentage point increase from October’s forecasts. It sees global GDP (gross domestic product) expanding by 4.2% in 2022, CNBC cited.

In 2022, the IMF expects 4.2 percent growth. Last year, according to the fund's analysts, the world economy declined by 3.5 percent, while in the fall, experts expected that by the end of 2020, global GDP would fall by 4.4 percent. At the same time, the fund noted that crude oil prices will grow by more than 20 percent this year, against the lower base level of 2020 but still be much lower than the 2019-year level. Prices for other commodities are also expected to increase, with the strongest growth anticipated in 2021 for metals prices, PNA quoted IMF experts.

The United States is set to grow more than expected this year, according to the IMF. Meanwhile, China is set to grow above 8% this year (Photo: Zing News)

“Much now depends on the outcome of this race between a mutating virus and vaccines to end the pandemic, and on the ability of policies to provide effective support until that happens,” the IMF’s Chief Economist Gita Gopinath said in a blog post. There remains tremendous uncertainty and prospects vary greatly across countries.”

The world has seen surging numbers of Covid-19 infections and deaths over the past few months, as new variants of the coronavirus have spread rapidly. These have been described as more infectious and are potentially deadlier than the original strain. As a result, many countries have stepped up their social restrictions, which has inflicted further economic pain.

On the other hand, the United States is set to grow more than expected this year, according to the IMF. The Fund revised its GDP forecast upward by 2 percentage points on the back of strong momentum in the second part of 2020 and additional fiscal support. GDP is now seen at 5.1% this year.

Looking at emerging markets, China is set to grow above 8% this year, the IMF said. “China returned to its pre-pandemic projected level in the fourth quarter of 2020, ahead of all large economies. The United States is projected to surpass its pre-Covid levels this year, well ahead of the euro area,” Gopinath said on Tuesday. The IMF reiterated that governments will need to keep supporting their economies via fiscal stimulus in order to bolster economic recovery.

IMF, RFI laud Vietnam’s effective response to Covid-19 pandemic In an article recently posted on Indian online newspaper ThePrint, Helge Berger- assistant director of the International Monetary Fund (IMF)'s Asia and Pacific Department praised ...

Japanese centre: Vietnam poised to achieve upper-middle-income status Vietnam is poised to achieve upper middle-income status in 2023, with income per capita headed for US$ 11,000 in 2035.

ADB lifts Vietnam’s economic growth forecast to 2.3% this year The Asian Development Bank (ADB) has raised its forecast for Vietnam's economic growth from 1.8% to 2.3% in 2020, thanks to the promotion of public ...