In defiance of the health crisis hurting the domestic economy, Vietnam has earned international optimitism for its growth outlook on the back of the country's good control of COVID-19 leading to impressively positive growth last year. Vietnam has been one of the best-performing global economies for the past 10 years. Photo: Le Toan/VIR In December and January, when the country began to be hit by a resurgence of COVID-19, a team of specialists from the ASEAN+3 Macroeconomic Research Office (AMRO), a regional macroeconomic surveillance organisation based in Singapore, held a virtual annual consultation with Vietnamese authorities. The discussions focused on the impact of the pandemic on the Vietnamese economy and policy response in supporting recovery while maintaining stability. "Vietnam's economic growth slowed to 2.91 per cent in 2020 due to the pandemic but is expected to rise to 7 per cent in 2021," said AMRO lead specialist Seung Hyun Luke Hong. "The rebound is expected to be underpinned by a recovery in external demand, a resilient domestic economy, capital inflows, and increased production capacity." According to AMRO, after a sharp drop in the second quarter, economic growth started to rebound in the third quarter of 2020. The recovery was broad-based:… Read full this story
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