The State Bank of Vietnam published a news item summarising Prime Minister Pham Minh Chinh’s presentation to the National Assembly on the supplementary assessment of 2024 socio-economic and state budget outcomes and early-2025 developments, including a target of 8% GDP growth in 2025 and an economy size above USD 500bn. The report highlighted 2024 GDP growth of 7.09%, inflation of 3.63% and an economy size of USD 476.3bn, with GDP per capita at USD 4,700. It also cited stable money and foreign exchange markets and further reductions in lending rates. State budget revenue exceeded VND 2,000 trillion, up 20.1% versus the estimate and VND 342.7 trillion above the estimate, alongside VND 197.3 trillion in tax, fee and land rent exemptions, reductions and deferrals. For early 2025, GDP growth in Q1/2025 was reported at 6.93% with inflation at 3.2%, and the update referenced stable exchange rates, lower lending rates and positive credit growth; state budget revenue in the first four months reached VND 944 trillion (48% of the estimate), up 26.3%, while trade turnover exceeded USD 275bn (up 15%) with a trade surplus above USD 5bn and disbursed FDI of USD 6.7bn. For 2025, the Prime Minister outlined 11 groups of measures, including macro policy coordination in response to external uncertainty such as US tariff policy, with flexible monetary policy alongside a “reasonably” expansionary fiscal stance and credit steered towards production and business activity and strategic infrastructure. Fiscal priorities included stronger discipline, a goal of lifting budget revenues by more than 15%, and a potential budget deficit adjustment to 4–4.5% of GDP if needed, alongside a plan to cut investment-business conditions and administrative compliance costs by 30% during 2025.

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