Emirates News Agency – Vietnamese economy is likely to grow 10% in Q3

HANOI, 5th August, 2022 (WAM) — The Vietnamese economy is likely to grow 10% year on year in the third quarter of this year, driven by strong domestic consumption, the Vietnam News Agency (VNA) quoted Michael Kokalari, chief economist at VinaCapital, one of the country’s leading investment management and real estate development companies.

Earnings growth are expected to exceed 20% this year, Kokalari said in a report entitled, “The divergence between Vietnam’s strong economy & weak stock market,” which outlines expectation for Vietnam’s economy in the last five months of 2022. It is attributed to the country’s solid economic performance, he added.

Vietnam’s real retail sales, excluding the impact of inflation, grew by 7.9% year-on-year in the first six months of 2022. This figure surged to 11.9% in the seven months, far above the 7% year-on-year growth that VinaCapital had previously been forecasting for 2022.

According to Kokalari, Vietnam’s stock market rose 37% last year, driven by a 36% surge in earnings. The consensus expects 16% earnings growth in 2022 and earnings growth of over 20% this year, as expected by VinaCapital, supported by Vietnam’s strong economic growth.

WAM/Esraa Ismail/Rola Alghoul

This content was originally posted at Emirates News Agency on the Source link .

Content Admin

About Author

You may also like


Emirates News Agency – UAE Press: Climate crisis is eminently solvable

Sun 29-05-2022 09:50 AM ABU DHABI, 29th May, 2022 (WAM) — The State of Climate report, released by the United

Emirates News Agency – Dozens killed in landslides in northeastern Brazil

Sun 29-05-2022 11:02 AM BRASÍLIA, 29th May, 2022 (WAM) — At least 28 people have been killed in a series