(illustrative photo: VNA)

The economy is likely to bounce back strongly from the end of the third quarter, similar to how it recovered after the lockdown was eased in April last year, according to Madani.

She said that though Vietnam is facing multiple economic risks due to impacts from the COVID-19 pandemic, its economy has proven resilient and dynamic. The country was among few nations sustaining positive economic growth last year.

The economist expressed her hope that the Vietnamese economy can rebound in the future as a result of the recovery of its major markets, such as the US, China, and the EU.

Last month, the WB forecast that Vietnam’s GDP would expand by about 4.8 percent in 2021, two percent lower than its projection last December.