Vietnam’s economy likely to revive after social distancing, says WB

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(VOVWORLD) - The World Bank says Vietnam’s economy will likely recover since social distancing began easing on April 24. 

In its May macroeconomic update for Vietnam, the WB reported that Fitch Ratings retained Vietnam’s sovereignty rating at BB and revised its outlook from Positive to Stable.

The statement shows Vietnam's strong medium-term growth prospects and stable macroeconomic environment, lower government debt levels and easier accessibility to external finance compared with others.

It added that Fitch lauds Vietnam for taking advantage of favorable economic conditions in recent years to consolidate its fiscal situation and foreign reserves, contributing to improved resistance to macro risks.