Vietnam has been shifted from the Low-Income Developing Countries (LIDCs) category to the Emerging Market and Middle-Income Economies (EMMIEs) group by the International Monetary Fund (IMF), as stated in the April 2024 edition of the World Economic Outlook report. The IMF did not provide a reason for this alteration.

The IMF predicts a continued global economic growth rate of 3.2% for both 2024 and 2025, matching that of 2023. While advanced economies are expected to experience a slight acceleration in growth, rising from 1.6% in 2023 to 1.7% in 2024 and 1.8% in 2025, emerging market and developing economies are anticipated to see a modest slowdown, declining from 4.3% in 2023 to 4.2% in both 2024 and 2025.

The IMF emphasized that the forecast for global growth five years from now, at 3.1%, is the lowest in decades, highlighting the surprising resilience of the global economy despite significant central bank interest rate hikes aimed at restoring price stability. Vietnam's GDP is projected to grow by 5.8% in 2024, 6.5% in 2025, and 6.5% in 2029, according to the IMF. Among Asian EMMIEs, Vietnam's growth rates for 2024 and 2025 are among the highest, trailing only behind Cambodia, India, Mongolia, Palau, and the Philippines. In 2025, Vietnam is expected to lead the group in economic growth, closely followed by Bhutan, India, and Palau. The IMF anticipates Vietnam's inflation to be 3.6% in 2024 and 3.4% in 2025.

Duy Nguyen, compiled from theinvestor.vn