{
  "Background and Context": "## Background and Context\n\n### Global Economic Headwinds and Vietnam's Resilience in 2025\n\nThe economic landscape for Vietnam in 2025 is shaped by a complex interplay of global and domestic factors. Internationally, the year began with significant uncertainties, including persistent geopolitical tensions, military conflicts, and a strengthening US dollar, which has exerted upward pressure on exchange rates in emerging economies ([xaydungchinhsach.chinhphu.vn](https://xaydungchinhsach.chinhphu.vn/kinh-te-6-thang-2025-thuc-hien-tu-duy-phat-trien-toan-dien-tao-nen-tang-cho-tang-truong-nhanh-hon-ben-vung-hon-119250706162050482.htm)). The International Monetary Fund (IMF) had already revised down its global economic growth forecast for 2025 to 2.8%, with trade growth projected at a mere 1.7%, half the rate of 2024. Global inflation was also anticipated to remain elevated, with forecasts of 4.3% for 2025 and 3.6% for 2026 ([xaydungchinhsach.chinhphu.vn](https://xaydungchinhsach.chinhphu.vn/kinh-te-viet-nam-2025-nam-bat-xu-huong-tan-dung-thoi-co-lam-moi-dong-luc-tieu-dung-thuc-day-tang-truong-119250618164734299.htm)). These external pressures, coupled with volatile economic policies and increasing trade protectionism from major trading partners, posed considerable risks to Vietnam's export-driven growth model ([xaydungchinhsach.chinhphu.vn](https://xaydungchinhsach.chinhphu.vn/kinh-te-viet-nam-2025-"
}