Deputy Prime Minister Ho Duc Phoc spoke to the Vietnam News Agency (VNA) about the outstanding results in implementing financial and budgetary tasks in 2024 as well as solutions for 2025.
Commercial banks and other credit institutes whose credit growth reached 80% of the targets set by the central bank at the beginning of the year, will have their credit limit increased, stated the State Bank of Vietnam (SBV).
Experts said Vietnam has the potential to achieve a GDP growth of 6-6.5% in 2024, driven by public investment, consumer spending, import-export recovery, and monetary policies.
All stakeholders from the Government, ministries, sectors, to banks, people and businesses must join hands together with highest responsibility in promoting national economic growth, ordered Prime Minister Pham Minh Chinh at a conference in Hanoi on December 7 to discuss way to tackle difficulties in credit growth for production and business, and promote economic growth and macro-economic stability.
Vietnam has the potential to achieve a GDP growth rate of 6-6.5% in 2024, driven by public investment, consumer spending, import-export recovery, and monetary policies, said Huynh Hoang Phuong, head of Investment Research and Analysis Division at FIDT JSC.
Vietnam's economic growth continued to face challenges which were seen in a slowdown in industrial production and declining exports due to weak external demand and global uncertainties, the World Bank’s June edition on Vietnam Macro Monitoring showed.
The State Treasury has announced that it plans to raise 400 trillion VND (over 17 billion USD) worth of Government bonds via auctions on the Hanoi Stock Exchange (HNX) this year.
In 2022, despite many difficulties, Vietnam has managed to keep the macro-economic stability, with high economic growth, controlled inflation and ensured major balances, as well as political stability and protected security and national sovereignty, and enhanced external relations, Prime Minister Pham Minh Chinh said at the 5th Vietnam Economic Forum in Hanoi on December 17.
The macroeconomic outlook of Vietnam is bright as the country has witnessed strong domestic consumption, received more foreign direct investments (FDI) and maintained a surplus in trade balance with other countries, with a real GDP growth forecast to exceed 8% in 2022, according to a US newspaper.
Vietnam’s aviation industry is forecast to continue facing difficulties and challenges in 2022 and needs support policies to be able to strongly rebound.
The State Bank of Vietnam (SBV) has urged lenders to not relax credit approval conditions but set tighter control on foreign currency lending and granting loans in high-risk sectors.
This year, the banking sector will focus on providing maximum support for enterprises to resume production while pouring cash flow into priority fields in line with the Government’s direction, Dao Minh Tu, Deputy Governor of the State Bank of Vietnam (SBV) has said.
A resolution on fiscal and monetary policies supporting the socio-economic recovery and development programme was ratified at the 15th National Assembly’s first extraordinary session (January 4 -11, 2022).
Experts forecast lending interest rates may hike in the short term but remain stable or even decline in the long run, providing appropriate moves are made.
As the COVID-19 pandemic is predicted to linger and affect the State budget revenue as well as spending on the pandemic combat, it is necessary to flexibly combine fiscal and monetary policies to keep macro-economic stability, said Minister of Finance Ho Duc Phoc.
Deputies to the 15th National Assembly (NA) debated four draft documents and their verification reports on important issues of the national economy during the first day of their first extraordinary session on January 4.
The State Bank of Vietnam (SBV) said it will continue coordinating with concerned Vietnamese ministries and agencies to communicate with the US regarding the US Department of Treasury’s latest report on macroeconomic and foreign exchange policies of major trading partners of the US.
Indonesia’s central bank (BI) slashed interest rates on September 19 for the third month in a row as Southeast Asia's biggest economy is affected by the US-China trade war and slow global growth.
