Gov’t raises 2025 GDP growth target to at least 8%

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

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

On February 5, the Government issued a Resolution requesting each of 63 provinces and centrally-run cities to strive for GDP growth rate of at least 8 percent.

Eighteen out of the 63 localities nationwide were assigned to achieve double-digit growth rates: Quang Ninh (12 percent), Hai Duong (10 percent), Hai Phong (12.5 percent), Ha Nam (10.5 percent), Nam Dinh (10.5 percent), Ninh Binh (12 percent), Bac Giang (13.6 percent), Dien Bien (10.5 percent), Thanh Hoa (11 percent), Nghe An (10.5 percent), Da Nang (10 percent), Quang Nam (10 percent), Khanh Hoa (10 percent), Ninh Thuan (13 percent), Kon Tum (10 percent), Binh Duong (10 percent), Dong Nai (10 percent), Ba Ria-Vung Tau (10 percent), according to the Resolution.

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

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