July 9, 2020 / 11:13 AM / a month ago

Vietnam 2020 economic growth seen at 3%-4%: government economic advisors

FILE PHOTO: A man works at a mechanical factory in Hanoi, Vietnam May 30, 2018. Picture taken May 30, 2018. REUTERS/Kham

HANOI (Reuters) - Vietnam’s economic growth is seen slowing down to 3%-4% this year from an expansion of 7.02% last year due to wider impacts of the coronavirus pandemic, a group of government economic advisors said on Thursday.

Inflation will be kept below 4% this year, they said in a statement on a government website, following a meeting with Prime Minister Nguyen Xuan Phuc.

Vietnam will consider further cutting policy rates to support economic growth, according to the statement. It said this year’s credit growth is seen at 10%

Reporting by Khanh Vu; Editing by Martin Petty

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