27.8 C
Ho Chi Minh City
Tuesday, June 25, 2024



Economic recovery

Credit growth target achievable

Despite showing positive signs in May 2024, credit growth in the banking system reached around 2.41% in the first five months of 2024 while the target set by the State Bank of Vietnam (SBV) for this year is 15%. The SBV has issued a directive urging credit institutions to accelerate lending to help achieve a 5-6% increase in credit by the end of Q2/2024. JANUARY-MAY CREDIT GROWTH Even though the SBV set the full-year credit growth target at 15% right from the beginning of this year, data showed that the banking system reported negative credit growth in the first two months. Credit growth only returned to positive territory in March, reaching 0.26% by the end of Q1/2024. This low growth rate not only indicates the difficulties in expanding credit for businesses and individuals but also reflects a partial offset of the spike in credit growth in the last month of 2023. By the end of last month, it is estimated that credit growth reached around 2.41%, with an average growth rate of about 1% per month in April and May. Thus, while Q1/2024 saw the lowest credit growth rate in many years (even lower than in 2020, the year of […]
To read more, please click here.

Vietnam’s economic recovery momentum to continue in H2 – UOB

HCMC – Singapore’s United Overseas Bank (UOB) has forecast that Vietnam's economic recovery will continue in the second half of this year. In its economic...

Challenges seen from Q1 recovery

The General Statistics Office’s report on the country’s socio-economic performance in the first quarter of 2024 features several encouraging insights. Macroeconomic indicators suggest that...

Recovery seen in various industries – PM

HCMC - Prime Minister Pham Minh Chinh today, March 14, highlighted positive improvements across a range of industries as he addressed a conference on...

Can Q3 profits help market recover?

Although quarterly earnings reports are always a factor that props up the stock market in the short term, third-quarter results in particular, as seen...

Uncertainty surrounds growth target

The ambitious goal of achieving the 6.5% GDP growth rate this year is facing considerable uncertainty as the fourth quarter, known for its heightened...

Vietnam’s industrial production improves in August

HCMC – Vietnam's industrial production continued its positive trajectory in August 2023 amidst ongoing global economic challenges, driven primarily by the processing and manufacturing...

Stimulus measures needed for recovery

Stimulus policies are expected to play a crucial role in boosting aggregate demand and driving a stronger economic recovery in the second half of...

Latest news