2025 GDP growth target raised to at least 8%

The Government has raised GDP growth target to at least 8 per cent in 2025 from its previous projection of 6.5-7 per cent, according to the Government News.

The revised target shall be submitted to the National Assembly (NA) for consideration and approval at its extraordinary session scheduled to take place next week.

The NA is also expected to consider the Government's proposals to maintain consumer price index at around 4.5-5 per cent and to raise budget overspending to about 4-4.5 per cent of the country's GDP in a bid to increase investment capital for development and repayment of debts.

Last year, the Vietnamese economy expanded 7.09 per cent, beating all the previous projections of international institutions like the Asian Development Bank (6.4 per cent), the World Bank (6.1 per cent), and the International Monetary Fund (6.1 per cent).

Vietnam's GDP size was estimated to reach VND11,511.9 trillion (equivalent to $476.3 billion) and the GDP per capita reached $4,700, an increase of US$377 against 2023, according to the General Statistics Office (GSO).