Thursday, 09/09/2021 18:10 (GMT+7)
By the end of August, credit of the economy increased by about 7.4% compared to the beginning of 2021, according to the State Bank of Vietnam.
Credit growth hits 7.4% in 8 months. (Photo: baoquocte.vn)
Particularly in Hanoi, credit rose 8.3% compared to the beginning of the year and increased by 1% from the previous month.
Meanwhile, in Ho Chi Minh City, credit soared 5.8% compared to the beginning of the year and increased 0.2% from the previous month. In 2 months since social distancing was applied, outstanding loans balance increased 1.1%, while the growth in the first 5 months of the year was 5%, increasing 1% per month on average.
The capital flows of the banking industry still focus on priority areas and support some essential industries like rice and important areas like the Mekong Delta. In the near future, the State Bank of Vietnam expects to organize a conference to support agricultural products, fruit trees and possibly the fisheries sector.
According to the State Bank of Vietnam’s scenario from the beginning of the year, if 70-80% of the population is vaccinated with one dose of COVID-19 vaccine and the epidemic is controlled, credit will increase by 12-13%, possibly reaching 14%.
However, if social distancing measures continue and the duration of vaccination is extended, credit can increase by 10-12%. If the epidemic lasts until the end of the year, credit growth will only reach about 7-8%./.
BTA