Vietnam raises 2025 GDP growth target to at least 8%

It recently issued a resolution requesting each of 63 provinces and centrally-run cities to strive for the new target.

The new target will be submitted to the National Assembly for consideration and approval at its extraordinary session scheduled to take place soon, according to a domestic media outlet.

The legislative body is also expected to consider the government's proposals to maintain consumer price index at around 4.5-5 per cent and to raise budget overspending to about 4-4.5 per cent of the country's GDP to raise investment capital for development and repayment of debts.

Eighteen out of the 63 localities were assigned to achieve double-digit growth rates, according to the resolution.

The country’s economy expanded by 7.09 per cent last year, beating earlier projections by top international institutions.

Fibre2Fashion News Desk (DS)