Australia, WB Support Vietnam’s Sustainable, Inclusive Development
	World Bank continues to accompany Vietnam to develop green agriculture

The statement was a part of a recent report on “Reaching new heights in the capital market.” Accordingly, WB economists forecast that Vietnam’s economy will grow by 6.1% in 2024 and 6.5% in 2025 and 2026, higher than the 5% in 2023.

Speaking at the press conference “Reaching new heights in the capital market” on August 26, Senior Economist of the World Bank in Vietnam Dorstai Madani, said that Vietnam entered a state of positive economic growth prospects with opportunities and risks generally balanced in 2024.

Delegates attended the press conference “Reaching new heights in the capital market” hosted by WB on August 26 (Photo: WB).

In terms of opportunities, the real estate market shows signs of recovery and is expected to turn around in late 2024 and early 2025 after resolving the frozen corporate bond market and the Land Law (amended) takes effect from August 2024.

“With continued export growth and signs of recovery in real estate, domestic demand is expected to strengthen in the second half of 2024 as investor and consumer sentiment improves. The current account balance is forecast to remain in small surplus, while the government is returning to fiscal consolidation, while inflation is forecast to decline from 4.5% in 2024 to 3.5% in 2026,” the World Bank report noted.

The higher-than-expected growth in the global economy could boost a sustainable recovery for Vietnam's export sector, said the WB expert. Looser monetary policy in major developed economies has been initiated by the European Central Bank (ECB) and the Bank of England (BoE), combined with the US Federal Reserve (FED) signaling a possible interest rate cut in September 2024. All the signs could further boost aggregate demand in developed economies and boost Vietnam's exports.

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