Vietnam’s economy to slow down due to typhoon Yagi

HANOI, Sept. 16 (Xinhua) — Vietnam’s economy is expected to slow donw by 0.15 percentage points compared with an earlier growth estimate of 6.8-7 percent this year due to typhoon Yagi, local media reported Monday, citing Minister of Planning and Investment Nguyen Chi Dung.
Growth may suffer decreases of 0.35 percentage points in the third quarter and 0.22 percentage points in the fourth quarter, Dung said.
Typhoon Yagi and its aftermath have so far resulted in an estimated loss of 40 trillion Vietnamese dong (1.6 billion U.S. dollars), according to the ministry.
Localities hit by the typhoon account for over 41 percent of the country’s economy and 40 percent of the population.
Typhoon Yagi and consequent landslides and floods have left 292 dead and 38 others missing in Vietnam as of Monday morning, according to the Ministry of Agriculture and Rural Development. ■