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GDP growth target for 2023 remains unchanged: Prime Minister

VGP – The Government will not change the growth target of 6.5 percent this year as economic indices show month after month recovery, said Prime Minister Pham Minh Chinh at the Cabinet meeting on August 5.

Posts Quang Minh

August 06, 2023 10:04 AM GMT+7
GDP growth target for 2023 remains unchanged: Prime Minister - Ảnh 1.

Prime Minister Pham Minh Chinh addresses the Cabinet meeting in Ha Noi, August 5, 2023. Photo: VGP

Viet Nam's GDP growth was estimated at 3.32 percent in January-March and accelerated to 4.14 percent in the second quarter, according to the General Statistics Office (GSO).

In January-July period, the consumer price index increased by 3.12 percent against the same period last year, budget revenue was estimated to reach 62.7 percent of this year's initial plan, said Minister of Planning and Investment Nguyen Chi Dung.

July's export and import turnover rose by 2.1 percent and 2.4 percent from the previous month and the volume of public investment capital was estimated at 37.85 percent of this year's plan compared to 34.47 percent of the same period last year.

Foreign direct investment (FDI) inflows increased by nearly 9 percent on year to US$2.8 billion in July and up 4.5 percent to US$16.24 billion in the first seven months. Meanwhile, disbursed volume of FDI picked up 0.8 percent to US$11.58 billion.

To achieve the whole-year GDP growth target, subbordinate levels need to double efforts to raise the growth rate to 9 percent in the rest of the year, the Government chief ordered.

Pham tasked subbordinate levels to put forward concrete measures to boost domestic consumption, investment and export.

The Prime Minister asked for doubling efforts to conclude negotiations on a free trade agreement with the United Arab Emirates in August. To date, Viet Nam has signed 16 trade deals involving more than 60 partners around the world./.