VNExpress-Aug 24

An escalation in Covid-19 cases and deaths in July and August will undermine Vietnam’s recovery from the pandemic shock, according to Fitch Ratings. Restrictions to control the spread of the disease will weigh on activity in the third quarter and could persist if the outbreak is not put under control, it said in a note released Monday. However, Fitch still expects Vietnam’s GDP performance over 2020-2021 to be the strongest among Fitch-rated sovereigns in ASEAN. Some lost growth momentum may also be made up in subsequent quarters as output and social activity normalize, although the risk of further outbreaks will linger as Vietnam’s vaccination rates remain low. Vietnam’s economy expanded 5.6 percent year-on-year in the first six months. The country has recorded over 354,000 Covid-19 cases since the end of April. Read more at: https://e.vnexpress.net/news/business/economy/covid-19-resurgence-setback-to-vietnam-s-recovery-fitch-ratings-4345671.html