The government targets GDP growth of 11.9% in the last 6 months of the year

The content stated in Resolution 168 dated June 27 on updating growth scenarios and key solutions in the remaining quarters, aims to achieve the 2026 growth target of 10% or more, associated with maintaining macroeconomic stability.

According to reports from ministries and localities, this year’s GDP is expected to increase by 8.7%. To achieve the double-digit growth target for the whole year (10%), the GDP increase in the last 6 months of the year set by the Government is 11.9%. Also according to this scenario, a number of industries and sub-sectors with high growth targets include electricity production (16.9%), construction (17.6%), and accommodation and food (17.3%).

Calculated by location, the growth scenario for the last 6 months of the year of the two economic engines Ho Chi Minh City and Hanoi is at 10.2% and 11%, respectively, an increase of 1.73% and 3.13% compared to the estimated GRDP increase in the first six months of the year. Provinces and cities targeting high growth in the second half of this year also include Hai Phong and Quang Ninh (13%), Bac Ninh (12.5%), Hung Yen (11.5%), Da Nang (11.22%)…

The executive recognizes that implementing the 2026 growth target of 10% or more is still difficult, in the context of the world situation, especially the Middle East conflict, which has a significant impact on the domestic economy in the first half of the year.

To realize the double-digit growth target, the Government requires the heads of ministries, branches, and provinces to innovate their thinking and methods, and set the highest determination to achieve the growth target according to the updated scenario.

Accordingly, localities have completed their goals in the first six months of the year and continue to strive to reach higher levels. Provinces and cities that have not yet achieved it must be determined to complete it, especially Hanoi, Ho Chi Minh City and other localities as growth drivers.

Regarding fiscal policy, the Ministry of Finance must operate a reasonable expansion policy, which urgently submits to the Government to flexibly adjust a number of regulations on gasoline and jet fuel taxes in accordance with world price developments this month. Other contents that this Ministry needs to submit include the allocation of sources to increase central budget revenue in 2025, the capital of the medium-term public investment plan for the period 2026-2030, and ensuring the source of implementing the base salary increase from July 1.

Ministries, agencies and localities must focus resources to accelerate disbursement of public investment capital in 2026, ensuring 100% disbursement of the assigned plan. Disbursement scenarios need to be developed in detail for each week, month, and quarter, as a basis for early warning and timely management.

The State Bank operates monetary policy proactively and flexibly, deploying solutions to stabilize interest rates and control inflation. Credit quality needs to be improved, directing capital flows to production and business sectors, priority areas, economic growth drivers and key projects serving socio-economic development…

In addition, the real estate market needs to develop healthily. The localities of Hanoi, Ho Chi Minh City, Hai Phong, Da Nang, Dong Nai, Quang Ninh, Bac Ninh, Hung Yen, Ninh Binh… proactively review and identify rental housing needs by segment, as a basis for planning and resource allocation.