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Falling Oil Prices Pinch Vietnam's Economy, Tourism

Vietnam’s export revenues are expected to drop because of sliding oil prices, putting pressure on the national budget, which relies on oil profits for more than 10 percent of all spending. Oil prices have tumbled nearly 50 percent over the past few months, sending shock waves through Vietnam. Economist Le Dang Doanh said the country is facing a dilemma over the low price. The government "is very concerned that the fall would shrink the state budget," he said. "The...

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