Delegate raised. Low disbursement of 2% interest rate support package, what did the Governor say?

(Dan Tri) - The policy of supporting interest rate of 2%/year through the system of commercial banks in the National Assembly Resolution No. 43 only achieved a low disbursement rate, reaching about 3.05% of the plan.

The report of the National Assembly's Supervisory Delegation shows that, in addition to the basic positive results, the promulgation and implementation of Resolution No. 43/2022/QH15 still has some shortcomings and limitations. For example, the policy of supporting interest rates of 2%/year through the system of commercial banks has achieved a low disbursement rate (only reaching about 3.05% of the plan). The policy of not achieving the above plan was discussed by many delegates in the hall on May 25. Notably, according to delegate Vu Tuan Anh (Phu Tho), the policy of supporting interest rates of 2% through the system of commercial banks is a very important solution to reduce costs, directly support production and business, and make an important contribution to the recovery and development of the socio-economy. However, the implementation results from the beginning of the program to the end of 2023 have only achieved about 3.05% of the policy scale. "It can be seen that this policy has hardly been put into practice, affecting the implementation of the goals of the proposed Socio-Economic Recovery and Development Program," Mr. Tuan Anh emphasized.

Delegate Vu Tuan Anh (Phu Tho) (Photo: Quochoi.vn).

In addition to the reasons why this policy has not been implemented as stated by the Supervisory Delegation, Mr. Tuan Anh said that the outstanding credit balance as of December 2021 was at VND 10.4 million billion, with credit growth in 2022 and 2023 at about 14%/year. Along with that, businesses and cooperatives are facing difficulties due to the impact of the Covid-19 pandemic, leading to small amounts of credit arising under the policy. In addition, many businesses are afraid of inspection, examination, and audit as stated by the Supervisory Delegation, so when receiving support from the state budget, although they are eligible, they do not request interest rate support. "Businesses really want to receive credit interest rate support according to the State's policy, but for some of the above reasons, the implementation has not met expectations," Mr. Tuan Anh said. Speaking to explain and clarify a number of issues raised by National Assembly deputies, Governor of the State Bank of Vietnam Nguyen Thi Hong said that the context for implementing Resolution 43 is the context of the world and domestic economy developing in a complex and unpredictable manner, unprecedented, with tight monetary policies of countries, difficulties in the real estate market, geopolitical conflicts, etc.

Governor of the State Bank of Vietnam Nguyen Thi Hong spoke to explain and clarify a number of issues raised by National Assembly deputies (Photo: Quochoi.vn).

Explaining the low results of policy implementation, the Governor of the State Bank said that this is one of the programs of Resolution 43. From the beginning, it was determined that this is a support policy for businesses that are able to recover, that is, have the ability to repay loans, not a policy to solve all businesses in a difficult economy. According to Ms. Hong, the loan capital of the program is capital mobilized by credit institutions from the people. Only the 2% interest rate support part comes from the State budget. Therefore, credit institutions must make loans according to current legal regulations and ensure the ability to recover debts. Therefore, the amount of disbursement depends largely on the decisions of businesses and credit institutions.

Tran Khang - Dantri.com.vn

Source: https://dantri.com.vn/kinh-doanh/dai-bieu-neu-goi-ho-tro-lai-suat-2-giai-ngan-thap-thong-doc-noi-gi-20240525151816958.htm