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Standard Chartered lowers Vietnam 2024 growth forecast to 6.0%
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HANOI (Reuters) – Standard Chartered has cut its forecast for Vietnam’s economic growth this year to 6.0% from 6.7%, the bank said on Wednesday, citing lower-than-expected growth in the first quarter and global trade headwinds.
HANOI (Reuters) – Standard Chartered has cut its forecast for Vietnam’s economic growth this year to 6.0% from 6.7%, the bank said on Wednesday, citing lower-than-expected growth in the first quarter and global trade headwinds.
“Trade, a key source of growth and investment for Vietnam, also faces short and long-term challenges,” the bank said in a statement.
It also cut its inflation forecast for the year to 4.3% from 5.5% after lower-than-expected first quarter inflation.
(Reporting by Khanh Vu; Editing by John Mair)
Inflation is the rate at which the general level of prices for goods and services rises, eroding purchasing power. It is typically measured by the Consumer Price Index (CPI).
Economic growth refers to an increase in the production of goods and services in an economy over a period of time, often measured by the rise in GDP.
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