Several international organisations have raised their economic growth forecasts for Vietnam in 2024 after the release of Q3 GDP data, which showed a significant 7.4% increase, exceeding previous projections.
Standard Chartered has lifted its forecast for Vietnam’s 2024 GDP growth to 6.8% from the previous 6%, reflecting the stronger-than-expected expansion in the third quarter of this year.
Singapore-based United Overseas Bank (UOB) has revised up its GDP growth forecast for Vietnam by 0.5 percentage point to 6.4% this year, from the previous projection of 5.9%.
Prime Minister Pham Minh Chinh called for greater efforts to achieve the annual GDP growth target of over 7%, while delivering a report on the implementation of the 2024 socio-economic development plan and another for 2025 at the ongoing 8th session of the 15th National Assembly in Hanoi on October 21.
The GDP in the first 9 months of 2024 expanded by 6.82% compared to the same period in 2023. The GDP, based on 2010 constant prices, reached 4,472.22 trillion VND (around 180 billion USD).
