Võ Trí Thành*Việt Nam’s Gross Domestic Product (GDP) growth rate was estimated to reach 5.05 per cent in 2023, the General Statistics Office (GSO) has announced. In 2023, economic growth momentum has moderated significantly in the first three quarters, reflecting the impact of weakening growth in industrial production, especially manufacturing, and exports. In its report on World Economic Outlook, the International Monetary Fund (IMF) forecast the country’s GDP growth rate in 2023 at only 4.7 per cent. The country’s 2023 GDP growth rate is also higher than the World Bank’s forecast of growth in developing East Asia and Pacific at 5 per cent in its East Asia and the Pacific Economic Update October 2023. As calculated, if even GDP in 2023 was 6 per cent, the growth rate of GDP in 2024-25 would have to be 8 per cent so that the average growth rate of the five-year period would reach 6.5 per cent.

Source: Viet Nam News January 02, 2024 09:33 UTC