The report, developed by the Central Institute for Economic Management of Vietnam with support from the German Government, sets out 3 scenarios for Vietnam’s Gross Domestic Product or GDP growth this year: 5.34%, 5.72% and 6.46%. 

The report encompasses Vietnam’s economic landscape in the first half of 2023 and prospects in the second half. 

“Vietnam is pursuing correct policies of stabilizing the macroeconomy, ensuring major balances, and improving the business climate. But these policies should be implemented effectively to boost public investment disbursement and improve the business community’s confidence,” said Nguyen Anh Duong of the Central Institute for Economic Management of Vietnam.

According to the report, though economic development fell short of the target in the first half, improvements have been recorded. GDP growth rose from 3.28% in Q1 to 4.14% in Q2. In the first half of this year, Vietnam’s economy expanded 3.73% while the Consumer Price Index increased 3.29%, somewhat lower than the 4.5% target set for the whole year.