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Vietnam Today

MPI: 2016 GDP target 6.5%

Released at: 08:10, 21/06/2015

MPI: 2016 GDP target 6.5%

Positive economic signs in the first half of this year sees ministry predict even higher GDP growth next year.

by Minh Tuyet

The Ministry of Planning and Investment (MPI) has forecast Vietnam’s GDP growth in 2016 to be 6.5 per cent in preparing socio-economic development plans, based on higher-than-anticipated growth in first six months of this year.

Growth for the first half was set at 6.11 per cent but actually came in around 6.2 per cent. The General Statistics Office (GSO) will release the official figure at the end of the month.

The MPI has already sent guidelines for preparing socio-economic development plans for 2016 to local authorities. Growth of agriculture, forestry and fisheries will be 2.16 per cent, industry and construction 8.36 per cent, and services 6.16 per cent.

GDP growth for the first six months exceeding the target first became a possibility when the first quarter figure was 6.03 per cent. Minister of Planning and Investment Bui Quang Vinh also expects growth for the year as a whole to be higher than the target.

The CPI in June is also predicted to have risen by 0.5 to 0.6 per cent compared to December, with a new annual forecast set at 3 to 4 per cent, lower than the original 5 per cent.

The two most important economic indicators could therefore be better than predicted. MPI believes that all 14 economic indicators will be achieved or exceeded.

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