“The phenomenon of an expanding money supply without a significant impact on inflation raises a question that deserves closer examination: where is the money going?” said Ph.D. Bui Trinh from FPT University in an interview with The Saigon Times. According to data from the State Bank of Vietnam, as of the end of April 2025, the total money supply in the economy reached VND18,721.57 trillion, up 4.5% compared to the end of 2024. Compared to the same period in 2024, this represents an increase of about 17%. Meanwhile, as of June 30, 2025, total outstanding loans in the system surpassed VND17,200 trillion, up 9.9% from the end of 2024 and 19.32% year-on-year. This indicates an abundant flow of money in the economy. However, according to a report from the General Statistics Office (Ministry of Finance), the average consumer price index (CPI) for the first six months of 2025 rose by 3.27%, while core inflation increased by 3.16% compared to the same period in 2024. This rise was mainly driven by: Food and food services: up 3.69% Housing, electricity, water, fuel, and building materials: up 5.73% Pharmaceuticals and healthcare services: up 13.87% Household equipment and appliances: up 1.6% Other goods and […]