Vietnam: Growth staying strong into 2027 – Standard Chartered

Standard Chartered predicts Vietnam's economic growth will stay high through 2027, projecting 9.5% growth in 2026 and 11.0% in 2027. The bank also raised its 2028 forecast to 9.1%, citing the government's commitment to growth, high foreign investment, and robust domestic demand. Quarterly growth is expected to reach 10.7% in the final quarter of 2026 and double digits early in 2027.

Inflation forecasts have been adjusted upwards for 2026 and 2027 due to recent higher-than-expected numbers, with the 2028 forecast also lowered as policy tightening is anticipated. The State Bank of Vietnam is expected to gradually increase the refinancing rate, bringing the rate to 5.00% by the end of 2028. Despite the higher inflation, the bank still expects gradual tightening of monetary policy over the next year, with growth and inflation moderating in 2028 as the central bank shifts focus to price stability.