GDP growth in the third quarter is estimated at 8.22%
The Minister of Finance said that Viet nam's GDP growth in the third quarter is estimated at 8.22% - the highest level in more than a decade, except for 2022, which rebounded strongly after the Covid-19 pandemic.
At the regular Government meeting on October 5, Minister of Finance Nguyen Van Thang said that the socio-economic situation in the first 9 months continued to be positive, achieving many important, outstanding and comprehensive results.
Specifically, GDP in the third quarter is estimated to increase by 8.22%, of which the added value of the agriculture, forestry and fishery sector is 3.74%; industry and construction is 9.46%; services are 8.54%. Thus, GDP growth in the first 9 months reached 7.84% over the same period, of which the 3 sectors are 3.83%, 8.69% and 8.48%, respectively.
"Economic growth is closely following the 8% full-year scenario when implementing synchronous solutions," said Mr. Thang.
Along with GDP, production and business, growth drivers continue to be promoted and renewed, maintaining positive growth momentum. Agriculture and services maintain a fairly good growth momentum in the context of being affected by natural disasters and floods. The mining industry in the third quarter tends to recover, increasing by 9.8%. The processing and manufacturing industry continues to be the driving force for growth, increasing by about 10% in the third quarter, 9.92% in the first 9 months, reaching the scenario (9.9%).
CPI in September increased by 3.38% over the same period, 9 months increased by 3.27%. Operators continue to control supply and prices well in areas affected by natural disasters. Credit growth is high, new loan interest rates continue to decrease. The stock market and corporate bonds continue to develop vigorously. State budget revenue in the first 9 months reached 1.92 million billion VND, equal to 97.9% of the estimate, up 30.5% over the same period.
The number of newly registered and re-operated enterprises in September reached 27,500 (up 55.6%); in the first 9 months, it reached over 231,300 enterprises (up 26.4%). The total additional capital of operating enterprises was 3.3 million billion VND, up 186.5%.
However, the Minister also admitted that the economy still faces a number of difficulties, is under a lot of pressure from the outside, and new growth drivers need time to change. Meanwhile, the completion of institutions and laws has not kept up with development requirements, and natural disasters are complicated.
The Ministry of Finance proposed that agencies carefully prepare draft laws and resolutions to be submitted to the 10th session of the National Assembly, ensuring quality, high consensus and implementation immediately after approval. At the same time, ministries, branches and localities should promote exports, develop harmonious and sustainable trade, promote investment, stimulate consumption, and develop new growth drivers.
At the conference, Prime Minister Pham Minh Chinh also asked delegates to focus on analyzing the context, new developments and impacts on Vietnam. He suggested discussing and clearly defining key tasks and solutions to strive for GDP growth of 8.3-8.5%, associated with macroeconomic stability, inflation control, and ensuring major balances.