HCM CITY — While Government expenditure was the main driver for the economy in 2023, local consumption will regain the spotlight in 2024, experts predicted. In a strategy report for 2024, Maybank Investment Bank forecasts steady economic recovery throughout 2024 with consumption regaining the spotlight thanks to a re-strengthening of exports, heathier household balance sheets and gradual revival of the real estate sector. “We forecast corporate earnings to grow 19.8 per cent year-on-year in fiscal year 2024 from a 3.4 per cent year-on-year drop in fiscal year 2023. Given recovery in the economy and the broader stock market, Maybank is bullish on cyclical sectors, especially consumption-related ones. “Under our base-case scenario, we like companies that can deliver solid and/or outstanding earnings growth.

Source: Viet Nam News February 10, 2024 15:28 UTC