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VCN – In 2019, their state Bank of Vietnam (SBV) stated credit development had reached 13.5percent, the point that is lowest since 2014. In 2020, the SBV set the prospective of credit growth at14 percent with adjustment on the basis of the situation that is actual. The lower development of credit raised issues about its effect on the economy that is whole especially the money is greatly reliant on bank credit.
Why was credit development low?
Based on the SBV, by the final end of 2019, the credit reached 13.5 per cent set alongside the end of 2018. When compared to the SBV’s forecast made previously this current year, credit development ended up being not as much as one per cent in 2010, the point that is lowest in the final 5 years. Nonetheless, credit has dedicated to concern areas, manufacturing and company. By December 31, 2019, credit to farming and areas that are rural by about 11 per cent, accounting for 25 % of this total outstanding loans associated with economy; little and medium enterprises increased by about 16 %; and high-tech enterprises went up by about 15 %.
Dr. Can Van Luc, a economic specialist, stated this resultwas positive development with descending modification. Read More…