HANOI, Dec. 11 (Xinhua) -- The Asian Development Bank has raised its 2024 and 2025 growth forecasts for Vietnam to 6.4 percent and 6.6 percent from previous predictions of 6.0 percent and 6.2 percent, driven by stronger trade activities and ongoing fiscal stimulus measures, according to the bank's latest edition of Asian Development Outlook.
Accelerated public investment and accommodative fiscal and monetary policies were anticipated to further stimulate domestic demand amid external challenges, the bank said.
Despite severe impacts caused by Typhoon Yagi in various areas in Vietnam, the government's swift response and recovery efforts limited the impacts on growth, according to the bank.
The government has targeted 7 percent growth in 2024 and 8 percent in 2025. ■
