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Monday, July 15, 2024

Two scenarios for Vietnam’s GDP growth in 2024

By Truc Dao

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HCMC – The Central Institute for Economic Management (CIEM) has forecast two potential scenarios for Vietnam’s economic growth this year. The first scenario projects gross domestic product (GDP) growth of 6.55%, while the second scenario predicts a GDP expansion of 6.95%.

These projections were presented at a forum held on July 9.

In the first scenario, export revenue in all of 2024 is expected to increase by 9.54% year-on-year. The average consumer price index (CPI) on a yearly basis will pick up 4.31% against the same period of last year. Meanwhile, the country would have a trade surplus of US$5.7 billion this year.

As for the second scenario, export revenue will expand by 11.64% versus last year, while the trade surplus would amount to US$7.3 billion.

To achieve the targets set in the first scenario, Vietnam should continue the policies implemented in the first half of the year, according to CIEM.

The second scenario will be realized if the country achieves maximum results in public investment disbursement rates, absorption of public investment, increased productivity, and an improved business environment.

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