Reuters
Vietnam says 2024 GDP may decline 0.15% due to Typhoon Yagi’s impact
Vietnam’s economic growth in 2024 may decline by 0.15% compared to the previous forecast due to the impact of Typhoon Yagi, Asia’s most powerful storm this year, according to Planning and Investment Minister Nguyen Chi Dung. The storm, which made landfall in Vietnam last Saturday, wreaked havoc on infrastructure, factories and cost the country about 40 trillion dong ($1.63 billion), state-run Vietnam News Agency (VNA) quoted the minister as telling a government meeting. “The growth rates in the last six months of the year of the whole country and of many localities are forecast to slow down,” VNA cited minister Dung as saying.