Vietnam recorded a GDP growth rate of 3.72% in the first half of 2023. (Photo: VNA) In the first scenario, the yearly GDP is envisioned to expand by 6%, so the growth inthe third quarter should reach 6.8% and 9% in the fourth quarter, which are 0.3and 1.9 percentage points higher than the figures projected in the scenario draftedat the beginning of the year. On average, the monthly growth rate should reach8% in the last six months of the year.
The second scenario estimates the yearly GDP growth at 6.5%, with the rates forQ3 and Q4 at 7.4% and 10.3%, respectively. The growth rate for the second halfof the year should be 8.9%.
Towards those goals, the MPI urged ministries and localities to further removedifficulties, support production and business activities, stimulate domesticconsumption, and promote investment and export.
The MPI also stressed the need to push ahead with administrative proceduresreform along with decentralization to create the best possible conditions forpeople and enterprises.
A report of the MPI, delivered at the June meeting of the Government, saideconomic indicators in June had improved over May and those in Q2 were betterthan those in Q1.
The average CPI in the first half rose 3.39% year on year, continuing the trendof slowdown. Trade surplus reach 12.2 billion USD. Investment flows showed a 4.7% increase to 1,350 trillion VND(nearly 57 billion USD), and over 65 trillion VND was disbursed, equal to 30.5%of the yearly plan.
The report pointed to the low growth rate of the industry-construction sector,at 1.1%, as the main cause behind the low growth of GDP in the first half ofthe year.
MPI Minister Nguyen Chi Dung listed measures to increase the growth rate,including administrative reforms, application of digital technology inadministrative procedures, removing difficulties for and support production,business and enterprises, and promoting investment and exports./.
VNA
