Vietnam Expected To Lose Billions Due To Coronavirus

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Vietnamese government adviser Le Dang Doanh expects the coronavirus to decrease Vietnam's GDP by 1 percent.

Vietnamese government adviser Le Dang Doanh expects the coronavirus to decrease Vietnam's GDP by 1 percent, according to Business Insider.

The entire world is facing difficulties as the number of confirmed cases of COVID-19 continues to climb. Vietnam has already been seriously affected and things are expected to get worse until a vaccination or decrease in the number of infections.

For example, the Tao Hoang Gia Trading Co. had been unable to receive the plywood that they import from China. Borders are closed and companies are struggling to produce or sell goods. On February 14, the Vietnamese government announced that it was not lowing its economic growth target for 2020.

"But I think the GDP growth rate of Vietnam's economy in 2020 should be reduced by ca. 1 [percentage point] from the 6.9% target, maybe to around 6.0-5.9%," said Doanh.

Vietnamese government adviser Le Dang Doanh expects the coronavirus to decrease Vietnam's GDP by 1 percent.

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