Vietnam’s central bank will struggle to achieve the country’s economic growth target of more than 10% in 2026 due to external factors like foreign tariffs and monetary policies, a senior official said Monday.

Pham Chi Quang, head of the State Bank of Vietnam’s Monetary Policy Department, highlighted these challenges during a quarterly press conference.

"Since the beginning of 2025, complicated and unpredictable developments of the global markets, such as the Fed’s unpredictable monetary policy and the tariff policy of the U.S. government, have been affecting the economy, the foreign exchange market and exchange rates," Quang said.

Vietnam remains on track to meet its current year’s economic growth target of more than 8%, according to government statements. For 2026, officials have set a more ambitious target exceeding 10%.

Quang indicated that the central bank’s strategy for next year will focus on flexible monetary policy management in coordination with fiscal policy.

This approach aims to maintain macroeconomic stability, control inflation, and support economic growth despite the challenging global environment.