(VOVWORLD) - Standard Chartered Bank forecasts that Vietnam’s economic growth rate will slow to 3% in 2020, the lowest rate in several years, due to weak global demand.
 Standard Chartered Bank: Viet Nam to grow 3% in 2020 (Source: kinhtedothi.vn) |
The forecast was revealed in the bank’s global research report for Q2 titled “The aftershock.”
Vietnam’s growth is likely to rebound in the second half of the year, driven largely by the domestic economy, said the bank’s economist Chidu Narayanan, who added that the troubled global economy will slow Vietnam’s growth.
Vietnam’s dependence on the global economy is the second-highest in ASEAN after Singapore; its trade-to-GDP ratio of 198 percent, driven by electronics exports, is one of Asia’s highest.