Vietnam’s government proposed growth of at least 10% in 2027 alongside inflation around 4.5%. Prime Minister Le Minh Hung outlined financing plans and lower lending rates for priority sectors. A parliamentary committee cautioned that weak purchasing power and businesses’ financing difficulties complicate the ambition. Lawmakers are expected to vote on the targets on November 7.
Economics & Markets··Night
Growth proposal pairs with inflation target
Vietnam’s government proposed gross domestic product growth of at least 10% in 2027 and consumer inflation around 4.5%. Prime Minister Le Minh Hung presented the objectives to the National Assembly on October 17. They form part of the government’s economic development and budget plans for next year.[1], [2]
The proposals also include per-capita income of about $6,100 and labour productivity growth of 8.6%. The government aims to increase budget revenue by 9.1%.[1]
Financing plans seek lower lending rates
Hung called for lower lending rates in priority sectors. The government’s financing plans include bonds, official development assistance, bank credit, private capital, state-enterprise reinvestment and foreign investment. Private businesses supplied 53% of total investment during the first nine months, but their 14% expansion lagged public and foreign-invested sectors.[1]
Parliament highlights businesses’ constraints
Parliament’s economic and financial committee highlighted businesses’ difficulties accessing finance, weak purchasing power and pressure on jobs and incomes. It called for contingency thresholds so that pursuing rapid growth preserves room for macroeconomic stability. The economy grew 9.01% in the first nine months. A vote on the proposed targets is expected on November 7.[1]
