Vietnam recovery prospects brightest in Southeast Asia: ICAEW The recovery prospects look brightest for Vietnam and the country is expected to be the only Southeast Asian economy to record positive growth this year, according to the latest Global Economic Outlook report from Oxford Economics, commissioned by chartered accountancy body ICAEW. The recovery prospects look brightest for Vietnam and the country is expected to be the only Southeast Asiaeconomy to record positive growth this year, according to the latest Global Economic Outlook report from Oxford Economics, commissioned by chartered accountancy body ICAEW. The report said that overall, it expects Southeast Asia’s GDP growth to contract by 4.2 percent in 2020. It added that the rebound in economic activity over the coming quarters in the region remains uncertain, particularly in the fourth quarter of 2020. Specifically, economies which have convincingly contained the COVID-19 outbreak such as Thailand and Vietnam will see a stronger recovery than Indonesia and the Philippines, which are battling new waves of infections after restrictions were prematurely relaxed. The report noted that both Indonesia and the Philippines remain highly vulnerable as they have weaker public health infrastructure, lower levels of fiscal support available, and are much more consumer driven… Read full this story
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