Covid-19 puts Vietnam's economy on the verge of zero growth
Hanoi, Jun 29 (Prensa Latina) The Vietnamese economy grew by a meager 0.36 percent in the second quarter of the year due to the coronavirus, the General Statistics Office (OGE) has said.
The figure contrasts with the 6.73 percent expansion of the Gross Domestic Product (GDP) in a similar period last year and is the lowest so far this century and in the last four decades.
The entity attributed the unusual and poor result to the Covid-19 pandemic, whose impact in economic, social and even life terms has been disastrous for the region and the rest of the world.
Vietnam has escaped almost miraculously without deaths and has only registered 355 cases since the SARS-CoV-2 erupted in the country at the beginning of the year, but the economy did feel the blow.
According to the entity, the sector of services is the most injured one, having contracted 1.76 percent, but other large contributors to the GDP have suffered alarming drops.
The arrival of tourists, for example, was reduced by more than 50 percent and the authorities have already given up on the goal of receiving more than 20 million in the year. Now there is talk that a good result would be six to eight million.
Other important sources of income, such as exports and foreign direct investment, have also suffered greatly during the year, but especially in April-May-June.
According to estimates by organizations such as the International Monetary Fund and the Asian Development Bank, the Vietnamese economy will grow around three percent in 2020.
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