As of June 26, the total outstanding debt of the entire system reached over 16.9 million billion VND, an increase of 8.3% compared to the end of 2024. Compared to the same period in 2024 (end of June 2024), credit increased by 18.87%. This is the highest growth rate since 2023.
On the afternoon of July 3, at the regular press conference for June, Deputy Governor of the State Bank Pham Thanh Ha answered questions related to credit growth data from the beginning of the year until now, with outstanding debt of the entire economy increasing by a record of more than 1 quadrillion VND.
Deputy Governor of the State Bank of Vietnam Pham Thanh Ha said that since the beginning of the year, in addition to very favorable factors, the economy has also faced many difficulties and challenges. Closely following the policies of the Party, the National Assembly, the Government and the Prime Minister's direction, based on actual market developments, the State Bank has operated monetary policy proactively and flexibly, harmoniously combining it with fiscal policy as well as other macroeconomic policies.
Regarding interest-related credit, the State Bank has kept the operating interest rates unchanged to maintain stable interest rates, creating favorable conditions for promoting credit. On the market side, commercial banks, with the role of implementing policies, have also actively implemented the State Bank's direction on maintaining stable deposit interest rates, creating a foundation for cost savings, thereby reducing lending rates. As a result, the average lending interest rate for new loans is 6.38%/year, down about 0.6% compared to the end of 2024.
Regarding credit to promptly meet the capital needs of the economy, the State Bank has also set a credit growth target of about 16% this year and adjusted according to economic developments. As a result, after implementing drastic and synchronous solutions, as of June 26, the total outstanding debt of the whole system reached over 16.9 million billion VND, an increase of 8.3% compared to the end of 2024. Compared to the same period in 2024 (end of June 2024), credit increased by 18.87%. This is the highest growth rate since 2023.
The credit structure is consistent with the structure of the economy and meets the credit needs of people and businesses. Some major sectors such as agriculture, forestry and fishery account for about 6.37%; processing and manufacturing industry accounts for about 12.84%; construction industry accounts for 7.53%. Construction includes infrastructure investment projects and this sector is being directed by the Government and the Prime Minister to boost credit in the sector. Other service sectors such as wholesale and retail account for a large proportion of about 23.74%.
Deputy Governor of the State Bank, credit for priority sectors, agriculture, rural areas and small and medium enterprises continue to be the two sectors with large proportions. Specifically, agriculture and rural areas account for 23.16%.
Credit for small and medium enterprises accounts for 17.51%. In terms of growth rate, the two priority sectors, supporting industry and high-tech enterprises, both have very high growth rates, nearly double the general rate. Specifically, high-tech industry is 15.69% and high-tech enterprises is 17.59%.
Credit institutions continued to disburse for credit programs under the direction of the Government and the Prime Minister, such as the credit program for the forestry and fishery sector, which increased in scale from VND 15,000 billion to VND 100,000 billion and was implemented very well and effectively. In addition, credit programs supporting the linkage of production, processing and consumption of 1 million hectares of high-quality rice in the Mekong Delta have also been actively implemented.
Some other programs such as social housing loans, or loans for young people under 35 years old to rent or buy social housing, or the recent program of 500,000 billion VND credit for businesses investing in infrastructure, digital ownership, and programs with policies have been actively implemented by credit institutions.
According to the representative of the State Bank, in order to achieve the goal of both controlling inflation, stabilizing the macro economy, and promoting economic growth according to the Government's target, in the last 6 months of the year, the State Bank will continue to synchronously operate credit solutions in accordance with macroeconomic developments, inflation, as well as the economy's capital absorption capacity. At the same time, it will promptly deploy solutions to remove difficulties, creating favorable conditions for people and businesses to access bank credit.
Source: https://baolamdong.vn/hon-1-trieu-ty-dong-duoc-bom-vao-linh-vuc-nao-trong-nua-nam-381044.html
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