State Bank of Vietnam presents monetary policy outlook to new government macroeconomic steering committee as Prime Minister calls for flexible policy and launch of national gold exchange

The State Bank of Vietnam presented a monetary policy report to the Government’s newly established Steering Committee for Macroeconomic Management and Administration at its inaugural meeting, chaired by Prime Minister Pham Minh Chinh. Set up as an inter-agency coordination body, the committee is intended to advise the Government and Prime Minister and to coordinate and push implementation on cross-cutting macroeconomic management issues. The meeting reviewed fiscal and monetary policy reports from the Ministry of Finance and the State Bank, including an assessment of current growth and macro conditions and the committee’s 2026 work programme. The discussion referenced estimated full-year 2025 GDP growth of about 8%, inflation control and secure major balances, with budget revenue up nearly 33% and nearly 300,000 enterprises entering or re-entering the market; tax, fee and land rent exemptions, reductions and deferrals were reported at nearly VND 242,000 billion. For 2026, the Prime Minister set a goal of double-digit growth while prioritising macroeconomic stability and inflation control, and directed monetary policy to be managed proactively and flexibly, including setting appropriate credit room, managing exchange rates and interest rates, steering cash flows to growth drivers and priority areas, and urgently bringing the national gold exchange into operation. Fiscal policy was to remain targeted and expansionary, including construction bond issuance and further tax policy work, alongside faster public investment disbursement and rapid issuance of guidance to implement laws and resolutions.