Two economic growth scenario forecasts for Vietnam in 2020
(VOVWORLD) - Minister of Planning and Investment Nguyen Chi Dung has submitted the National Assembly supplementary report on social economic development plan this year and two scenario forecasts for Vietnam this year.
 Workers process fish fillet for exports (Photo: Vietnam Economic Times) |
In the first scenario when Vietnam is able to contain the pandemic in the second half of April and the country’s major trade partners reopen their economies in the third quarter, the GDP growth is set in a range of 4.4 – 5.2% year-on-year, (1.6 – 2.4 percentage points lower than the target).
For the second scenario, if Vietnam’s major trade partners could only recover by the fourth quarter, Vietnam’s economy would expand by 3.6 – 4.4% year-on-year, (2.4 – 3.2 percentage points lower than the target).
Minister Dung said the government has initiated an economic stimulus package, including credit support and public investment solutions to stabilize the macro economy and maintain a reasonable growth rate.