Vietnam maintains positive outlook for economic recovery in 2021: WB

The rapid suppression of the new COVID-19 outbreak in late January 2021 has helped maintain Vietnam’s positive outlook for economic recovery this year, the World Bank (WB) has said.

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 In its latest Vietnam Macro Monitoring report, the WB said, looking ahead, special attention should be paid to how the COVID-19 vaccinations will be rolled out domestically and globally as they will impact the pace of Vietnam’s economic growth. Further fiscal and monetary policy interventions may be needed to support recovery of private demand.

The WB noted that despite the new COVID-19 outbreak, retail sales in February grew by 0.3 percent month-on-month and by 8.3 percent year-onyear due to higher consumption demand associated with the Tet holidays.

 Vietnam’s merchandise exports fell by 4.2 percent year-on-year while imports grew by 11.8 percent year-on-year in February 2021, resulting in the first month of trade deficit since April 2020.

 In the first two month of 2021, the Vietnamese government collected nearly  12.4 billion USD of revenues, which is 0.6 percent higher than the same period last year./.

VNA