At a recent conference held in Hanoi, the SBV said the decision would hold until the end of the year, rather than as previously agreed, expiring at the end of this month.
The extension is expected to reduce pressure on companies which are struggling to service their debts and support economic recovery under the current challenging economic situation.
At the conference, the SBV’s Governor Nguyen Thi Hong said as of June 14 this year, credit increased by 3.79% against the end of last year. According to the Government’s targets, credit growth by the end of the second quarter of 2024 is set to reach 5-6% and 15-16% for the whole year.
According to the Governor, credit growth still has to control risks, ensure the safety of the banking system and focus on economic growth drivers, including those meeting the new trends such as green credit.
The SBV said it would proactively manage credit growth to contribute to controlling inflation, stabilising the macroeconomy and supporting economic growth.
Credit institutions must promote credit safely, effectively, accurately and promptly meet the capital needs of the economy, the SBV said, adding the institutions must direct lending to production, business and priority sectors and key economic growth drivers./.
Source: vietnamplus