HANOI, Dec. 16 (Xinhua) -- The Vietnamese economic landscape looks promising, with the gross domestic product (GDP) growth expected to exceed the set target of 7 percent thanks to concerted efforts by ministries and sectors, Vietnam News on Monday cited Deputy Minister of Planning and Investment Tran Quoc Phuong as saying.

He said the ministry's economic scenario, reported to the government in the third quarter, suggested that without significant disruptions such as typhoons, floods and adverse global impacts, Vietnam has a solid foundation to obtain its 7 percent growth goal.

Nguyen Dieu Huyen, deputy director of the General Statistics Office's System of National Accounts Department, said the U.S. Federal Reserve (FED)'s potential interest rate reductions would help stabilize the economy and fuel GDP growth despite inherent time lag.

Vietnam could continue its robust growth momentum with FED's loosened monetary policy and stable macroeconomic conditions, she said.

In its latest projection, the Asian Development Bank raised its 2024 growth forecasts for Vietnam to 6.4 percent from previous prediction of 6.0 percent. Enditem

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