HANOI, Nov 29 Reuters Vietnam39;s parliament on Wednesday decided to further extend a reduction in valueadded tax VAT on goods and services until the end of June 2024.

The VAT cut to 8 from 10, which has been in place since early 2022, was designed to boost domestic consumption and production as the Southeast Asian country39;s exportdriven economy faces headwinds from slowing global demand.

Vietnam39;s exports in the year to Nov. 15 fell 6.4 from a year earlier to 306 billion, government data released on Wednesday showed, as weak global demand continues to weigh on its shipments of products such as garments, smartphones and electronics.

Vietnam39;s economic growth is estimated at 5 this year, below an earlier government target of 6.5 and slower than a lowbase expansion of 8.02 last year.

Reporting by Khanh Vu; Editing by Jamie Freed

Source Reuters