• Friday, February 28, 2020

Vietnam’s 2020 GDP growth could fall to 7-year low

Discussion in 'China & Far East' started by Viet, Feb 14, 2020.

  1. Viet

    Viet ELITE MEMBER

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    [​IMG]
    A man sanitizes a train at Saigon Railway Station in Ho Chi Minh City on February 7, 2020. Photo by VnExpress/Quynh Tran.

    The severity of the novel coronavirus epidemic is likely to drag Vietnam’s GDP growth down to 5.96 percent this year.


    The projected growth rate, lowest since 2013, assumes that the Covid-19 epidemic is contained in the second quarter, according to a report released by the Ministry of Planning and Investment Wednesday.

    If the disease is contained in the first quarter, the growth is estimated at 6.25 percent, still a drop from 7.02 percent last year.

    In both scenarios, growth will fail to meet the target of 6.8 percent, it is envisaged.

    percentageVietnam's GDP growth*forecast

    6.236.235.325.326.786.786.246.245.255.255.425.425.985.986.686.686.216.216.816.817.087.087.027.025.965.962008200920102011201220132014201520162017201820192020*55.566.577.52015● GDP growth: 6.68

    The ministry has also forecast that inflation could reach 3.96 percent or 4.86 percent, against a target of 4 percent.

    The latest forecast of the planning ministry is lower than the 6.09 percent it had estimated last week. But it had also said that forecasts are likely to change with the government’s interventions to boost the economy amidst the epidemic.

    Vietnam’s key industries are likely to be hit hard by the Covid-19 epidemic this year.

    The Vietnam Tourism Advisory board has estimated a revenue loss of between $7 and $15 billion.

    Local airlines have reported losses of VND10 trillion ($430.5 million) from over 400 weekly Vietnam-China flights being canceled, according to the Civil Aviation Authority of Vietnam.

    From 2017-2019, Vietnam’s annual GDP growth had exceeded 6.8 percent and was among the fastest growing economies in ASEAN.

    https://ampe.vnexpress.net/news/bus...-growth-could-fall-to-7-year-low-4054140.html
     
  2. Viet

    Viet ELITE MEMBER

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    We must increase cooperation with US and EU or face hard landing.

    :hitwall:
     
  3. riscol

    riscol FULL MEMBER

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    It is so obvious that Vietnam is going to crash if China's economy is taking a hit. Not to mention it is very stupid to assume increasing cooperation with EU and the US will make up for it. When the world factory is put on a hold it will have a global effect. Business and Tourism will all be affected by this viral attack. Mongrel will have to thank America for it.
     
  4. Mista

    Mista SENIOR MEMBER

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    It's temporary. What's more important is long-term economic growth.
     
  5. ZeEa5KPul

    ZeEa5KPul FULL MEMBER

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    Weren't you or another of the Vietnamese here cheering this virus? Well, I hope you've learned the lesson that diseases don't care what passport you hold.
     
  6. Viva_Viet

    Viva_Viet SENIOR MEMBER

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    okay, but if VN some factories also have to close, then ur useless life will become so miserable cos u will have to buy everything wt much higher price,.

    for example: U have to buy med mask wt 3 times higher in CAD now cos CN dont have mask to sell when VN want to make tripple money from useless guys like u..and u have No choice but buy the mask at the price we want. got it ??:cool:

    if CAD try to make Med mask, then I think the price could be at least 5times higher .
     
    Last edited: Feb 15, 2020
  7. riscol

    riscol FULL MEMBER

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    Look what the mongrel is saying now. Really whatever happened to China crash 2023 and Vietnam is taking advantage of trade war between China and US? Reality check China taking a hit and Vietnam is crashing.
     
  8. Viva_Viet

    Viva_Viet SENIOR MEMBER

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    Whatever, u still have to buy mask from VN in tripple price to cover ur filthy mouth and make us rich :cool: