The plan shows that the government targets to raise gross domestic product per capita to $3,200 to $3,500 by 2020 compared with the International Monetary Fund’s estimate of about $2,171 in 2015. The government’s inflation target, meanwhile, remains below 5% while the budget deficit estimates is expected to hold steady at 4% of GDP.
According to some economists, the central bank’s efforts to make the dollar/dong exchange rate more flexible will also help the economy to stabilize and ease pressure on reserves.
Recent government data showed that Vietnam’s private consumption rose 9.3% in 2015 while disbursed foreign direct investment jumped 17.4% to a record-high of $14.5 billion in 2015 compared with the previous year.