NA sets target of 6.5% GDP growth in 2024

With 90.49% of approval votes, the National Assembly (NA) on November 9 adopted a resolution on the socio-economic development plan for 2024, which sets a target of 6.0 - 6.5% growth in gross domestic product (GDP) for the year.

Under the resolution, the per capita income is expected to reach 4,700 - 4,730 USD next year, while the manufacturing-processing sector’s contribution to GDP is hoped to hit 24.1 - 24.2%. At the same time, the country will strive for 4.8 - 5.3% in productivity growth rate.

Chairman of the NA Economic Committee Vu Hong Thanh said that during the building and making adjustments to the draft resolution, some deputies held that amid the current situation, the goal of 6.0 - 6.5% in GDP growth is relatively high, and recommended lowering the goal to 5 - 6%.

However, he said that the GDP growth target was set on the foundation of analysis and forecast of the domestic and international situation taking into account advantages and difficulties in 2024, and following the tasks and targets set in the five-year socio-economic development plan.

The setting of high goals also shows the Government’s determination, while ensuring flexibility and harmony among targets, the official said.