GSO upbeats about GDP preset goal

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In the first nine months, relatively high growth rate was achieved, driven by the industrial sector and market services. 

Specifically, ​processing and manufacturing industries played the leading role in the development of industrial sector with 11.37% of growth rate. After three years of consecutive decline, the mining sector expanded by 2.68%. 

Retail sales of goods and services experienced a year-on-year growth of 8.31%. The fnancial, banking, and insurance sector witnessed a year-on-year growth of 8.19%. The transport sector and warehouse sector increased by 7.82%. Information and telecom expanded by 7.65%. 

On the basis of business and production results in the first nine months, the GSO upgraded the GDP growth scenarios.

To attain the GDP growth rate of 6.8% for the whole year, in Q4, GDP must be 6.45% of which the agro-forestry-fishery sector must expand by 1.98%; the industrial and construction sector 7.38%; and the service sector 7.03%. 

However, the agro-forestry-fishery sector was forecast to suffer the rate of minus 0.61% due to heavy impacts of the African swine fever disease and lower paddy output. Hence, it is difficult for the agro-forestry-fishery sector to attain the preset goal of 4.31% under Resolution 01/NQ-CP. 

In the rest of the year, it is necessary to speed up industrial and service sectors in order to offset the deficiency part of the agro-forestry-fishery sector.

However, General Director Law was optimistic about the preset goal of 6.8%./.

By Kim Loan