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GDP growth to hit 8% this year in base-case scenario: Official

Vietnam’s GDP growth will reach 8% this year in the base-case scenario, provided that there will be no upheavals in the market but favourable external factors for the economy during the remaining months of the year, according to Deputy Minister of Planning and Investment Tran Quoc Phuong.
GDP growth to hit 8% this year in base-case scenario: Official ảnh 1Illustrative photo. (Photo: VNA)
Hanoi (VNA) – Vietnam’s GDP growth will reach 8%this year in the base-case scenario, provided that there will be no upheavalsin the market but favourable external factors for the economy during theremaining months of the year, according to Deputy Minister of Planning andInvestment Tran Quoc Phuong.

It was one of the two GDP scenarios for 2022 announced by theMinistry of Planning and Investment (MPI) at a routine government press briefingon October 1.

In the worst-case scenario, the GDP will grow at 7.5%,provided that many challenges and uncertainties are expected in the fourthquarter of this year, Phuong told reporters.

Commenting on Vietnam’s economic outlook for 2023, he said there will be bothchallenges and opportunities, but the former are likely tooutweigh the latter and be even tougher in the wake of inflationary pressureworldwide and gloomy global economic outlook.

He noted that global inflation, particularly in majoreconomies as well as Vietnam's key partners, is unlikely to ease over thenext one or two months but certainly will linger on in 2023.

The official also voiced concern over other threats to the Vietnamese economy,emphasising the ongoing Russia-Ukraine crisis and non-conventional risks like storms,flooding, and epidemics.

The MPI forecast the Vietnamese economy will expand around6.5% in 2023 in a growth scenario submitted to the Government, he said.

The deputy minister also revealed that 46.7% of the total publicinvestment has been disbursed so far this year./.
VNA
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