It’s a big challenge for the economy to reach this year’s GDP growth target of 6.5%, and economic expansion is hoped to be boosted by some important demand factors in the second half of 2023, experts have said.

VOV.VN - Vietnam is relying too much on monetary policies in order to stimulate demand. However, loosening lending standards and lowering interest rates serve to reduce asset quality, thereby creating asset bubbles, according to economic experts.

Experts gave recommendations to restore aggregate demand and promote growth in the new context at the mid-year macro-economic roundtable in Hanoi on July 11.

VOV.VN - The nation is poised to resume rapid economic growth over the medium-term economic outlook, with the “rising star” being one of the fastest growing emerging markets in Asia, according to details given by foreign newswires.

The Ministry of Planning and Investment (MPI) has built two scenarios for GDP growth in the second half of the year, based on the situation in the first half.

All economic sectors should actively implement drastic and synchronous measures to promote growth and overcome difficulties in the rest of the year, aiming to complete this year’s target of 6.5% in GDP growth, according to General Director of the General Statistics Office (GSO) Nguyen Thi Huong.

VOV.VN - According to data released on June 29 by the General Statistics Office (GSO), the Vietnamese economy is continuing to encounter difficulties as it only expanded by an estimated 3.72% during the first six months of the year.

VOV.VN - The Vietnamese economy is continuing to encounter difficulties as it only expanded by estimated 3.72% in the first half of the year, according to statistics released by the General Statistics Office (GSO).

Vietnam’s GDP growth is likely to expand by 5% in the second quarter, and 4% in 2023 before reaching 6% in 2024, Singapore-based Maybank Research Pte Ltd said in a report released on June 27.

Standard Chartered Bank forecasts Vietnam’s second quarter GDP growth to have slowed to 1.5% year-on-year (from 3.3% in the first quarter), posing downside risks to its 6.5% growth forecast for 2023. However, a rebound is expected in the second half of the year.