Vietnam:2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Vietnam

2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Vietnam

Volume/Issue: Volume 2021 Issue 042

Publication date: March 2021

ISBN: 9781513570488

$18.00

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Topics covered in this book

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Banks and Banking , Exports and Imports , Economics- Macroeconomics , Public Finance , Business and Economics - Statistics , ISCR , CR , accommodative monetary policy stance , U , S , dollar , th authorities , State budget , fiscal policy framework , CPI methodology , government financing data , External sector statistics , Global

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Summary

Successful containment of COVID-19 and strong policy support have helped contain the health and economic fallout, and a strong recovery is underway. Growth in 2020 reached 2.9 percent, among the highest in the world. However, labor market conditions remain weak. Corporate balance sheets have worsened, potentially hampering private investment and job prospects. Banks entered the crisis in a stronger position than in previous years, but weaknesses remain. Vietnam’s economy remains heavily reliant on external trade and is vulnerable to trade tensions.