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Vietnam’s growth slides to new 30-year low

This file photo taken on March 31, 2021 shows a woman riding her bicycle past shops beneath a residential building in Hanoi. Vietnam reported economic growth of just 2.58 percent on Wednesday, beating a 30-year low set last year as the pandemic continues to take a toll. (AFP)

Vietnam reported economic growth of just 2.58% on Wednesday, beating a 30-year low set last year as the pandemic continues to take a toll.

The communist state has long been a success story among Asian economies, posting growth of seven% in 2019.

But shutdowns caused by coronavirus have battered the export-reliant economy, sending GDP growth plunging to 2.91% in 2020 — the lowest reported in three decades.

The General Statistics Office (GSO) in Hanoi said fourth quarter growth was at 5.22%, but the annual figure was dragged down by a…

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