ex. Game, Music, Video, Photography

ADB pegs Vietnam growth at 1.8 pct

Vietnam’s economy could grow 1.8 percent this year, showcasing its resilience despite deleterious impacts of the Covid-19 pandemic, the Asian Development Bank (ADB) says.

Ngày đăng: 23 tháng 9, 2021
Cập nhật: 14 tháng 1, 2023
Lượt xem: 335596536
Nguồn: vnexpress

It attributes the positive growth to the government’s success in containing the pandemic.

"Lower domestic consumption and weak global demand caused by Covid-19 have hurt Vietnam’s economy more than expected. But economic growth will be resilient in 2020, in large part due to the government’s success in controlling the spread of Covid-19," ADB Country Director for Vietnam Andrew Jeffries said Tuesday.

He added that economic growth will be supported by macroeconomic stability, increased public spending, and ongoing reforms to improve the business environment.

The Asian Development Outlook (ADO) 2020 Update said that Vietnam will benefit from the continued diversion of production from China and the implementation of a free trade agreement with the E.U., which came into effect on August 1.

Slower-than-normal growth would keep inflation subdued at 3.3 percent this year and 3.5 percent in 2021.

However, risks remain, including the ongoing pandemic and trade tensions which could lead to rising trade protection, the report said.

The latest outlook marked ADB’s revision from an earlier forecast of 4.1 percent in June due to a rise in new Covid-19 infections in the country since late July.

Domestic consumption is expected to remain weak due to lower household and corporate incomes, rising unemployment, and more firms suspending operations, the report said.

Credit growth will also likely be weak as banks are reluctant to lower their lending norms over fear of an increase in nonperforming loans, it said.

The economy is expected to rebound to a growth of 6.3 percent next year, it added.

Vietnam recorded a decade-low GDP growth of 1.8 percent in the first six months. Last year’s growth of 7.02 percent was second highest in a decade.

The government had earlier announced a growth target of 2-2.5 percent for this year.

ADB also forecasts that economies across developing Asia, which groups 45 Asia-Pacific countries, will see a GDP decline of 0.7 percent this year, the first contraction since the early 1960s.


Từ vựng liên quan

Tin tức liên quan

 Young Saigonese take to cycling after long lockdown
life 03/12/2021

Young Saigonese take to cycling after long lockdown

trend | 357596539

A newfound enthusiasm for bicycling has caught bike rental shops and clubs in HCMC unprepared, and many are scrambling to import bicycles to meet the demand.

 Saigon expat district wallows in flood waters again
news 30/03/2021

Saigon expat district wallows in flood waters again

news | 166706558

Torrential rains Thursday afternoon submerged many streets in flood-prone Thao Dien, home to the largest expat community in Saigon.

 Vietnam bags three gold medals in junior international science contest
news 22/03/2021

Vietnam bags three gold medals in junior international science contest

news | 47146575

All six Vietnamese students participating in the International Junior Science Olympiad in Qatar have won medals, three of them gold.

Air New Zealand touches down in Vietnam with new direct flight
news 09/09/2021

Air New Zealand touches down in Vietnam with new direct flight

news | 263836559

The 11-hour flight from Auckland landed in Ho Chi Minh City on Sunday morning, opening direct Air New Zealand flights to Vietnam that are expected to offer more cooperation opportunities between the two countries.

 Atrium gives depth and vastness to Saigon house
life 22/03/2021

Atrium gives depth and vastness to Saigon house

style | 46816555

A 3-storied house in Saigon with a perforated brick facade is wrapped around a triple-level atrium.

 ‘Turn back or it will be shot down’: Vietnam Airlines flight threatened
news 06/01/2022

‘Turn back or it will be shot down’: Vietnam Airlines flight threatened

news | 364086528

A Vietnam Airlines aircraft flying from Japan’s Narita airport to Hanoi was diverted to another Japanese airport after a caller threatened that it would be shot down over Tokyo Bay.

 Vietnamese movie wins project award at Busan film festival
life 16/10/2021

Vietnamese movie wins project award at Busan film festival

culture | 346166543

‘If Wood Could Cry, It Would Cry Blood’ by Nguyen Phan Linh Dan has won an award in the Asian Project Market at the Busan International Film Festival.

 Epicenter Hai Duong records two new Covid-19 cases
news 28/03/2021

Epicenter Hai Duong records two new Covid-19 cases

news | 131816568

Two more Covid-19 patients were reported in Hai Duong Wednesday morning, raising the northern province's infection tally to 627 in less than a month.

 Vietnamese man dies after eating dog poison disguised as candy
news 27/03/2021

Vietnamese man dies after eating dog poison disguised as candy

news | 99566564

The victim's brother found him foaming at the mouth and convulsing violently in front of his home.

Vietnam’s Coffee King comes down from the mountain
business 13/10/2021

Vietnam’s Coffee King comes down from the mountain

business | 345396530

CEO of Trung Nguyen Coffee put in an unannounced appearance and asked company staff to ‘revolutionize’ themselves.

Link Tài Trợ - Sponsored Links

Công Thức Vật Lý
Loading…