National Assembly revises up GDP growth target to 8% in 2025
VGP - Legislators on Wednesday approved the Government's proposal to raise 2025 GDP growth target to at least 8 percent from previous goal of 6.5-7 percent.
Lawmakers vote to pass resolution on supplements to the 2025 socio-economic development plan
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 percent), the World Bank (6.1 percent), and the International Monetary Fund (6.1 percent).
Viet Nam's GDP size was estimated at US$476.3 billion and the GDP per capita reached US$4,700, an increase of US$377 against 2023, according to the General Statistics Office (GSO).
The legislative body also agreed with the Government's goals to increase the country's GDP scale to more than US$500 billion and GDP per capita to US$5,000, and maintain the average growth rate of consumer price index (CPI) around 4.5 – 5 percent.
The National Assembly requested the Government to formulate specific policies to promote the development of highly potential economic zones such as Van Don Economic Zone in the northern province of Quang Ninh, and Van Phong Economic Zone in the central coastal province of Khanh Hoa.
The National Assembly urged the Government to basically complete the construction of Long Thanh International Airport, put the 3rd terminal of Tan Son Nhat International Airport and the 2nd terminal of Noi Bai International Airport into operation, and commence the construction of Lien Chieu seaport in the central province of Da Nang.
The National Assembly allowed the Government to increase state budget overspending to 4-4.5 percent of GDP; public debt, government debt, and foreign debt by around 5 percent above the limits capped by the legislative body, to mobilize resources for development investment./.
