Fitch Ratings projects Vietnam's GDP growth to rise to 6.3% in 2024

The country’s domestic fiscal and monetary policies have supported the national economy, it noted.

The economy's medium-term fundamentals remain favorable and has sustained a period of economic expansion, thereby creating positive business prospects for the banking sector, the rating agency said.

The gross domestic product (GDP) growth rate slowed to 4.3 per cent over the past nine months of the year.

Standard Chartered Bank, too, maintained a robust 2024 GDP growth forecast of 6.7 per cent for the country, according to a report in a Vietnamese media outlet.

The International Monetary Fund has expressed optimism as well about the medium-term prospects, with the GDP growth projected to reach 5.8 per cent in 2024 and 6.9 per cent in 2025.

ALCHEMPro News Desk (DS)