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Vietnam's economic recovery will be stronger in H2

Vietnam's recovery is forecast to be stronger in H2 of this year as the country resumed its tourism activities after a two-year closure, according to the latest Vietnam report released by Standard Chartered. The bank maintained its forecast for the country's GDP growth at 10.8% in the second quarter, and 3.9% in the third and fourth quarters of this year, respectively. The full year growth forecast is 6.7%. The report said the Vietnamese economy would see a continued recovery in August as the recovery has shown signs of broadening. Standard Chartered, however, recommended that the State Bank of Vietnam be wary of financial instability risks. Another bank, HSBC, also sees the country's economy to continue to gain traction despite a less rosy external picture.

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