Economic Update – Vietnam starting to feel the hit of Covid-19

• Economic activities on both the supply and demand sides have been significantly affected by the Covid-19 outbreak.
• We expect inflation to average higher in 2020F but remain under control at below 4.0%.
• Given the concerns over the coronavirus outbreak, we cut our 2020F growth forecast to 6.0% and expect a 25bp rate cut in 1H20F.

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