This site uses cookies. By using it you agree to their use in accordance with current browser settings .
I accept


Search Menu
A A A high contrast A A

Export Promotion Portal

Vietnam 12th strongest economy amid Covid-19 fallout

Wyślij Print Pobierz added: Hanh Ngan | 2020-05-07 05:08:55
vietnam, economy, crisis, covid 19

Vietnam is the 12th strongest financially out of 66 emerging economies following the devastation caused by the Covid-19 pandemic, according to The Economist newspaper.

101587644595158764501990401587-1930-3593-1588730967680x408Bui Vien Street in downtown Saigon on April 23, 2020 after social distancing order was eased. Photo by VnExpress/Quynh Tran.

In Southeast Asia, it is behind only the Philippines (6th) and Thailand (7th) in a global ranking compiled by the British publication of 66 countries and territories based on four indicators: public debt, foreign debt, cost of borrowing, and reserve cover.

The Vietnamese economy is relatively strong and stable in all four and is among the least affected by the Covid-19 crisis, the report said.

Vietnam’s public debt stood at 56.1 percent of GDP last year and is set to reduce to 54.3 percent this year, the Ministry of Finance said in a budget report to the National Assembly.

The country lifted its 22-day social distancing campaign from April 23 and the government ordered provinces and cities to reopen their economy at the earliest.

The country saw decade-low GDP growth of 3.8 percent in the first quarter after "non-essential" businesses and tourist destinations were ordered to close.

Last year growth had been 7.02 percent, the second highest rate in a decade.

At a cabinet meeting on Tuesday Prime Minister Nguyen Xuan Phuc called for setting a growth target of above 5 percent for this year and keeping inflation below 4 percent.

Botswana, Taiwan, South Korea, Peru, and Russia were the top five economies in the ranking while Venezuela brought up the bottom.



Polish companies offers


Marka HU HU to produkty przeznaczone dla najmłodszych fanów kolorowej i pachnącej kąpieli. Z weso...
Polska - ZIELONA GÓRA 2022-06-22 Added:Grzegorz Chodacki Cosmetics See offer

Kule do kąpieli

Kąpiel w towarzystwie Hydrozaura to nie lada gratka dla Twojego gagatka! Wraz z dzieckiem odkryj ...
Polska - ZIELONA GÓRA 2022-06-22 Added:Grzegorz Chodacki Cosmetics See offer

Perfumy do prania

W naszej ofercie znajdziesz produkty do prania i pielęgnacji pralki: kapsułki do prania, odkamien...
Polska - ZIELONA GÓRA 2022-06-22 Added:Grzegorz Chodacki Other chemical products See offer

See more offers