Vietnam's economic growth in 2024 may decline by 0.15% compared to the previous forecast due to the impact of Typhoon Yagi, Asia's most powerful storm this year, according to Planning and Investment Minister Nguyen Chi Dung.

Super Typhoon Yagi and its aftermath cut a swath of destruction across north Vietnam estimated at 40 trillion dong ($1.6 billion), threatening to lower the country’s economic growth for the year.

Typhoon Yagi, Asia’s most powerful storm this year, has left dozens dead since sweeping across southern China and Southeast Asia last week, leaving a trail of destruction with its intense rainfall and powerful winds.