HSBC lowers Vietnam’s growth forecast

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A shipper receives a package at a bakery in Ho Chi Minh City on September 9, 2021. Photo by VnExpress/Quynh Tran

 

Lender HSBC has lowered its growth forecast for Vietnam from 7.1 percent to 5.1 percent given the ongoing fourth Covid-19 wave that has disrupted key economic activities.

 

"The impact of [the Delta] variant as it spread across the country and in particular the economic heartland of Vietnam in the south meant a swift re-introduction of lockdowns and travel restrictions," said CEO of HSBC Vietnam Tim Evans in a recent note.

 

He forecast GDP growth would be in the range of 5-5.5 percent, depending on the speed and effectiveness of the vaccination rollout, re-opening of the economy and recovery and resumption of major export markets.

 

Full Story: https://e.vnexpress.net/news/business/economy/hsbc-lowers-vietnam-s-growth-forecast-4356236.html

 

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