The country’s socio-economic situation in the first nine months remained positive, achieving many outstanding results, Minister of Finance Nguyen Van Thang said at a government meeting Sunday.
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Construction workers seen in Lao Cai Province, northern Vietnam, in October 2024. Photo by VnExpress/Giang Huy |
The growth rate was second only to the third quarter of 2022 when the economy rebounded after a slump caused by the Covid-19 pandemic.
Agriculture, forestry and fisheries grew by 3.74%, industry and construction by 9.46%, and services by 8.54%.
In the first nine months GDP grew 7.84%.
“Economic growth closely follows the full-year 8% scenario as different plans were imposed in coordination,” Thang said.
Alongside GDP, production, business activities, and growth drivers continued to be promoted and renewed, maintaining positive growth momentum.
The Consumer Price Index in September rose 3.38% year-on-year, with a 9-month increase of 3.27%.
Authorities continued to effectively control supply and prices in disaster-affected areas.
Credit growth remained high, with new lending rates continuing to decline.
The stock market and corporate bond market remained active.
State budget revenue in nine months reached VND1.92 quadrillion, up 30.5%.
But the minister also acknowledged that the economy continued to face certain difficulties, with significant external pressures, and that new growth drivers require time to materialize.
Institutional and legal development has not kept pace with growth demands, while natural disasters remain challenging.
The Ministry of Finance proposed that agencies carefully prepare draft laws and resolutions for the 10th National Assembly session, ensuring high quality and broad consensus, with immediate implementation upon approval.
Ministries, sectors, and localities were urged to boost exports, develop balanced and sustainable trade, stimulate investment, spur consumer demand, and cultivate new growth drivers.
At the meeting, Prime Minister Pham Minh Chinh called on government bodies to focus on analyzing global developments and their impacts on Vietnam.
He requested that discussions clearly identify key tasks and solutions aimed at achieving GDP growth of 8.3–8.5%, in line with macroeconomic stability, inflation control, and the maintenance of major economic balances.
