Vietnam's economic growth in the second quarter fell to its slowest pace in decades due to the impact of the coronavirus pandemic.
FILE PHOTO: A man paints steel structures of a new factory in Hanoi, Vietnam May 30, 2018. Picture taken May 30, 2018. REUTERS/Kham
Gross domestic product in the April-June period grew 0.36% from a year earlier, compared with an expansion of 6.73% in the same period last year, the government’s General Statistics Office said in a statement on Monday. The services sector in the second quarter contracted 1.76% from a year earlier, while the industrial sector rose 1.38% and the agriculture sector was up 1.72%, the GSO said.
The International Monetary Fund forecast last month Vietnam’s economic growth will slow to 2.7% in 2020, but Prime Minster Nguyen Xuan Phuc said his government will try to keep growth above 5%.
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