CIEM forecasts Vietnam's GDP growth in 6.13-6.48% range for 2024

17 Jan '24

1 min read

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Vietnam's Central Institute for Economic Management has projected that the country's GDP growth would accelerate to 6.13 per cent in a scenario in which export turnover would grow at 4.02 per cent, the trade surplus would hit $5.64 billion and average inflation would be 3.94 per cent.
This year would be tough for Vietnam in particular, the institute noted.

Vietnam’s Central Institute for Economic Management (CIEM) recently projected that the country’s gross domestic product (GDP) growth would accelerate to 6.13 per cent in a scenario in which export turnover would grow at 4.02 per cent, the trade surplus would reach $5.64 billion and average inflation would be 3.94 per cent.

In a second scenario, in which export turnover would grow at 5.19 per cent, the trade surplus would reach $6.26 billion and average inflation would be 3.72 per cent, GDP growth would be 6.48 per cent.

The institute recently released a report titled ‘Vietnam's economy in 2023 and prospects for 2024: Reforms to accelerate growth recovery’.

This year would be another difficult year for the world in general and for Vietnam in particular, CIEM director Tran Thi Hong Minh was quoted as saying by a domestic media outlet.

The country’s National Assembly has set a GDP growth target of 6-6.5 per cent for this year.

The Asian Development Bank has projected a growth rate of 6 per cent this year for the country.

ALCHEMPro News Desk (DS)

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