Hanoi: Vietnam Economic Growth Affected by the following factors, 2024 may fall by 0.15% from the previous forecast Typhoon YagiThe Minister of Planning and Investment said that the strongest storm in Asia this year Ruan Zhiyong.
The storm made landfall in Vietnam on Saturday, causing severe damage to infrastructure, factories and causing losses of approximately 40 trillion dong ($1.63 billion) to the country. vietnam news agency (VNA) quoted the minister’s speech at a government meeting.
“The growth rate is expected to slow down nationwide and in many places in the last six months of this year,” VNA quoted Minister Nguyen Tan Dung as saying.
“Compared with the situation without Typhoon Yagi, GDP growth in the third and fourth quarters may decline by 0.35% and 0.22% respectively,” he added.
The ministry predicted in July that Vietnam’s economy could grow by 7% this year.
Data from Vietnam’s disaster relief agency showed that the Southeast Asian country is suffering from the impact of Typhoon Yagi, which left at least 281 people dead and 67 missing as of Sunday morning.
Flooding also submerged 190,000 hectares (469,500 acres) of rice fields, 48,000 hectares of cash crops such as corn and cassava in northern Vietnam, and damaged nearly 232,000 homes, according to the agency.
Dung said Haiphong City, which has several industrial parks, suffered about VND11 trillion ($448.43 million) in losses and damages due to the typhoon.
In another statement issued by the government, Vietnam said that despite being hit by Typhoon Yagi, it still strives to control inflation this year and achieve gross domestic product growth of about 7%.
The storm made landfall in Vietnam on Saturday, causing severe damage to infrastructure, factories and causing losses of approximately 40 trillion dong ($1.63 billion) to the country. vietnam news agency (VNA) quoted the minister’s speech at a government meeting.
“The growth rate is expected to slow down nationwide and in many places in the last six months of this year,” VNA quoted Minister Nguyen Tan Dung as saying.
“Compared with the situation without Typhoon Yagi, GDP growth in the third and fourth quarters may decline by 0.35% and 0.22% respectively,” he added.
The ministry predicted in July that Vietnam’s economy could grow by 7% this year.
Data from Vietnam’s disaster relief agency showed that the Southeast Asian country is suffering from the impact of Typhoon Yagi, which left at least 281 people dead and 67 missing as of Sunday morning.
Flooding also submerged 190,000 hectares (469,500 acres) of rice fields, 48,000 hectares of cash crops such as corn and cassava in northern Vietnam, and damaged nearly 232,000 homes, according to the agency.
Dung said Haiphong City, which has several industrial parks, suffered about VND11 trillion ($448.43 million) in losses and damages due to the typhoon.
In another statement issued by the government, Vietnam said that despite being hit by Typhoon Yagi, it still strives to control inflation this year and achieve gross domestic product growth of about 7%.