Despite favourable prospects for the Vietnamese economy in the medium term, the country's GDP growth will be affected negatively by the global Covid-19 (coronavirus) pandemic, the World Bank said in a report titled "East Asia and Pacific in the Time of Covid-19," published on Tuesday (March 31).
In the short term, the Covid-19 outbreak could create stronger adverse impacts on Vietnam's economy, especially manufacturing and tourism sectors which are highly dependent on the global economy, the report noted.
Vietnam is estimated to gain a GDP growth of 3.82% in the first quarter of this year, the lowest in the 2011-2020 period, the country's General Statistics Office announced last Friday.
Vietnam recorded a GDP growth of 7.02% in 2019, up from the annualised target of 6.6-6.8%, and has set a target of a GDP growth of around 6.8% this year, according to the office. - Xinhua/Asian News Network