Vietnam fears it might not hit GDP growth target in 2020 due to Covid-19

Rubber production at Dầu Tiếng Rubber Corporation in the southern province of Bình Dương. — VNA/VNS

HANOI (Vietnam News/ANN): Vietnam might fail to achieve its 6.8 per cent GDP growth rate target set earlier this year as the novel coronavirus epidemic continues to take a heavy toll on the global economy, according to the Ministry of Planning and Investment.

In a meeting on Wednesday (Feb 12) chaired by the Prime Minister Nguyễn Xuân Phúc to look at revised growth scenarios in the wake of the devastating Covid-19 (the new name of the virus), the ministry said if the outbreak is contained within the first quarter this year, 2020’s GDP growth target will be 6.25 per cent, 0.55 percentage points lower than the previous goal.