Vietnam's GDP grows by 13.7% YoY in Q3 2022: World Bank
23 Oct 22 2 min read
The growth could be attributed both to strong economic activities and to the low-base effects, a news agency reported citing the report, titled ‘Vietnam Macro Monitoring’.
Foreign direct investment (FDI) commitment fell in September, hit by the heighted uncertainty about the global economic prospects while FDI disbursement continued to improve, the World Bank says.
Exports and imports growth moderated in September due to weakening demand from major export markets.
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Consumer price index (CPI)-based inflation accelerated from 2.9 per cent in August to 3.9 per cent in September largely due to higher education costs and rents despite softening energy prices.
Credit growth accelerated from 16.2 per cent in August to 17.2 per cent in September as the State Bank of Vietnam raised credit growth limits on some commercial banks.
While economic recovery has remained strong, heightened uncertainties related to the slowing global economy, rising domestic inflation and tightening global financial conditions warrant increased vigilance and policy agility, the World Bank notes.
Fibre2Fashion News Desk (DS)
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