Experts believe that increasing credit growth limits (credit room) not only allows businesses greater access to capital but also helps stabilize the monetary market.

Credit growth has accelerating since the beginning of June, signaling that the 15% growth target is achievable, if the rate is maintained in the remaining months of this year.

The State Bank of Vietnam (SBV)’s recent decision to increase credit room by 1.5-2% for credit institutions aims to increase resources and the supply of credit to businesses and key sectors of the economy, SBV Deputy Governor Dao Minh Tu has said.

The State Bank of Vietnam (SBV)’s decision to increase credit room by 1.5%-2% fits Vietnam’s current financial situation, helping ease inflationary pressure, interest rates and exchange rates, according to experts.

Some banks have increased lines of credit and immediately plan to allocate capital to priority sectors and essential industries of the economy.

Easing credit limitations will facilitate the implementation of the 2% interest rate support package as well as meet the capital needs for enterprises to restore production and business toward the end of the year.