Vietnam targets 2024 GDP growth at 6–6.5%

Xuan Thinh Monday | 10/23/2023 16:26

Photo: VnEconomy

Prime Minister Pham Minh Chinh informed parliamentarians on Monday that the government has set a goal GDP growth rate of 6–6.5 percent for 2024.

According to Prime Minister Pham, other major targets for next year include GDP per capita (around $4,700–$4,730), the ratio of processing and manufacturing to GDP (from 24.1 percent to -24.2 percent), the annual increase of the consumer price index (from 4 percent to 4.5 percent), urban and rural unemployment rates (below 4 percent), and budget overspending (below 4 percent of GDP).

He stated that the government will continue to prioritize accelerating development while also stabilizing macroeconomic stability, containing inflation, and preserving the economy's major balances.

The government will also present the North-South high-speed railway proposal to the National Assembly in 2024.

The GDP growth rate in Vietnam increased to 5.33 percent in the July–September period this year, up from 3.28 percent and 4.05 percent in the first and second quarters, respectively, according to the General Statistics Office (GSO) on Friday.

The aforementioned result is rather encouraging since the economy maintained its growth pace from quarter to quarter despite global obstacles.