Vietnamese economy set to lose $ 37 billion due to Covid-19 pandemic


Vietnam’s economy is expected to lose some $ 37 billion due to the Covid-19 pandemic by the end of this year, according to a senior official.

Nguyen Thanh Phong, deputy head of the Economic Commission of the Vietnamese Communist Party Central Committee, made the remarks during a forum on economic stimulus measures held in the capital Hanoi on Sunday, the news agency reports. Xinhua.

Without the raging pandemic, the country’s economy could have grown by 7% a year for the past two years, Phong said.

However, in fact, it grew 2.91% in 2020 and is only expected to grow 2.5% in 2021.

To withstand the impact of the pandemic, it is necessary to have comprehensive stimulus solutions with four growth drivers namely investment, exports, domestic consumption and digital transformation, the official said.

Vietnam posted modest gross domestic product growth of 1.42% in the first nine months of this year due to the severe impacts of the pandemic, according to its general bureau of statistics.

The country will strive to achieve an economic growth rate of between 6 and 6.5% in 2022 as part of a plan recently decided by its highest legislature.


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(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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