Government keeps 2025 growth target unchanged from 8%

The Government issued Resolution No. 77/NQ-CP dated April 10, 2025 on the regular Government meeting in March 2025 and the Government's online conference with localities.

The Government requires ministries, branches and localities to prioritize promoting high growth in association with maintaining macroeconomic stability, controlling inflation, ensuring major balances of the economy, being proactive, flexible, and responding promptly and effectively with policies to emerging issues, and firmly achieving the GDP growth target of 8% or more in 2025.

Ministries and sectors will develop scenarios to respond to international fluctuations, especially the US's reciprocal tax policy. The Ministry of Finance will soon propose a plan to support businesses and workers affected by the tariff policy; submit a draft on extending the value-added tax (VAT) reduction from July 1, 2025 to the end of 2026.

The State Bank will operate exchange rates flexibly, be ready to intervene when necessary, promote credit to production sectors, provide short-term loans to support businesses affected by US tariff policies; research preferential loan packages for people under 35 years old to buy houses, and long-term credit packages for infrastructure and digital technology.

The government keeps the 2025 growth target unchanged at 8%. (Illustration photo).

To ensure stable production and boost the economy, the Government also set out a series of specific tasks for ministries and sectors. The Ministry of Industry and Trade quickly removed obstacles to implementing the Power Plan VIII, ensuring no power shortages. At the same time, it stepped up trade promotion, connected to new markets, soon completed new FTAs ​​and promoted bilateral negotiations with the US.

The Government requested to accelerate public investment disbursement and disburse all capital plans for 2025. The Ministry of Construction was assigned to develop a policy to stimulate domestic consumption of construction materials and propose to reduce clinker tax (the main ingredient of cement). The tourism industry increased promotion for the summer of 2025, coordinated the management of airfares, and stimulated domestic tourism demand.

To improve the business environment, the Government requires effective implementation of the program to cut and simplify administrative procedures for 2025-2026, especially procedures related to production, business and decentralization of administrative procedure settlement.

Assessing the current situation, the Resolution said that the world situation is forecast to continue to have large, rapid, complicated and unpredictable fluctuations; military conflicts in some regions continue; strategic competition between major countries is more intense, trade wars occur on a large scale, risks of disruption to global supply chains and value chains...

Domestically, difficulties and challenges outweigh opportunities and advantages; extreme weather conditions pose risks to agricultural production, electricity production and supply; new, unpredictable factors inside and outside the economy create pressure on macroeconomic stability, inflation, exchange rates, major balances and management and operations to promote growth.

Chau Anh

Source: https://vtcnews.vn/chinh-phu-giu-nguyen-muc-tieu-tang-truong-2025-tu-8-ar937208.html