DNVN - In 2025, the State Bank is ready to allow commercial banks to lend beyond the credit limit (open more "room") if businesses can access and absorb capital better.
In an interview with the press on the occasion of the beginning of the Lunar New Year 2025, Mr. Dao Minh Tu - Permanent Deputy Governor of the State Bank of Vietnam (SBV) said that in 2024, the SBV has operated a proactive and flexible monetary policy to support economic growth, stabilize the macro economy, and control inflation.
GDP growth in 2024 will reach 7.09%; inflation will be well controlled, below the target set by the National Assembly. Major economic balances will be ensured, contributing to creating a stable macroeconomic foundation.
2025 is an important year in implementing the 5-year plans. The State Bank of Vietnam will continue to operate flexible and appropriate policies to support the achievement of economic growth targets. In particular, monetary and fiscal policies will be the pillars of macroeconomic management policies, especially in implementing the target of controlling inflation.
The Standing Deputy Governor of the State Bank of Vietnam emphasized that 2025 is the final year of implementing the 5-year Socio-Economic Development Plan 2021-2025, the whole country and the entire banking industry are highly focused and set higher targets than every year. The Government sets a GDP growth target of more than 8% and the State Bank of Vietnam also sets a credit growth target of 16%.
In 2025, the State Bank sets a credit growth target of 16%.
“The State Bank has additional capital from the bond and securities markets and other capital sources from social and private investment to reduce pressure on credit. Regarding the 16% credit growth rate in 2025, this figure is set to guide management, not a legal figure. The ultimate goal is to control inflation, ensure support for economic growth, and stabilize the value of money and exchange rates.
“We encourage credit growth in sectors that are the driving force of economic growth, green credit, and strictly control sectors to avoid commercial banks from growing uncontrolled hot credit. The State Bank of Vietnam is ready to open more “room” if businesses can access and absorb capital better,” said Mr. Tu.
In 2025, the State Bank will conduct open market operations flexibly, closely following monetary policy targets. At the same time, it will recapitalize credit institutions to support liquidity, provide loans for programs approved by the Government and the Prime Minister, support the restructuring of credit institutions and handle bad debts.
However, Mr. Tu also said that 2025 is forecast to continue to be a year with many difficulties and challenges for the Vietnamese economy in general and for monetary policy management in particular when the global economy still has many uncertain factors and potential risks. These factors are likely to put pressure on exchange rates and the foreign exchange market.
In the country, besides favorable factors, the domestic economy still faces many difficulties and challenges. Meanwhile, the pressure on capital supply from the credit institution system for the economy is still large. This poses a great risk of maturity and liquidity for the banking system (short-term mobilization for medium and long-term lending).
In addition, resources for implementing policy credit programs are limited compared to the actual needs of the poor and policy beneficiaries. Some credit programs have been issued but have not been allocated stable capital for implementation.
“The above-mentioned international and domestic contexts pose many difficulties and challenges for the management of the State Bank. However, the close attention and direction of the Government and the Prime Minister, the flexibility, proactiveness and determination of the State Bank in management and the efforts and high responsibility of the banking system will gradually resolve these challenges,” Mr. Tu believes.
Ha Anh
Source: https://doanhnghiepvn.vn/kinh-te/tai-chinh-ngan-hang/nam-2025-doanh-nghiep-hap-thu-von-tot-ngan-hang-san-sang-mo-them-room/20250115024604112
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