Vietnam GDP performance to remain strongest among Fitch-rated sovereigns in ASEAN
Restrictions to control the spread of the disease will weigh on activity in this third quarter and could persist if the outbreak is not under control.
Restrictions to control the spread of the disease will weigh on activity in this third quarter and could persist if the outbreak is not under control.
While key economic indicators in January remains positive, the economy is set to go through a rough path amid a Covid-19 resurgence.
The country is projected to grow 6.8% in 2021 on condition that the pandemic be contained.
The newly-launched outlook provides cohesive insights about national, regional, and global perspectives.
The absorption fell 57% on-quarter and 51% on-year to 17% during the quarter.
The economy is subject to a strong rebound of 7% GDP growth in 2021.
Fitch also lowered Vietnam's GDP growth projections to 3.3% in 2020 from 7.0% in 2019, on account of the pandemic.
Moody's rating actions on the 18 banks are driven purely by the sovereign rating action, and do not reflect a weakening of the banks' standalone financial profiles.
The finance ministry reiterated that the government is always serious about meeting commitments to timely debt payments with development partners and international financial institutions.