Prime Minister requests to reduce lending interest rates at the end of the year

The Prime Minister requested the State Bank to direct the reduction of lending interest rates, supporting people and businesses to have conditions to develop production and business.

Prime Minister Pham Minh Chinh has just sent an official dispatch to the State Bank on credit management solutions.

The Head of Government assessed that the world situation is complicated, military conflicts are prolonged in some regions, the global economy is recovering slowly, unevenly, and is not stable, natural disasters and climate change are greatly affecting many countries.

Domestically, production and business activities of people and enterprises face many difficulties, especially heavy damage caused by storm No. 3. Access to credit is still difficult, and bad debt of banks is increasing.

In this context, the Prime Minister requested the State Bank to closely monitor the international situation and have timely and effective policy responses.

In the telegram, the Government leader assigned the credit growth target for the whole year at 15%. The State Bank was requested to continue to effectively and more strongly implement solutions within its authority to reduce the lending interest rate level.

Credit needs to focus on production and business sectors, priority sectors and economic growth drivers, digital transformation, green transformation, climate change response, circular economy, sharing economy, science, technology and innovation. At the same time, banks need to promote lending to serve production, business and consumer needs at the end of the year and during the Lunar New Year.

"Ensure that credit capital is brought into the economy in the most practical and effective way, absolutely not allowing congestion, delay, wrong timing, wrong address, creating a mechanism of asking for and giving, and negativity in the credit granting of the credit institution system," the dispatch clearly stated.

In addition, banks also need to continue to review and take measures to restructure debt repayment terms, waive and reduce interest rates, and continue to provide new loans to support borrowers affected by storm No. 3.

The State Bank is also assigned to closely monitor credit granting, interest rate transparency of credit institutions and have timely solutions to handle bad debts of the banking system.

The Prime Minister requested the State Bank to resolutely implement solutions to manage interest rates, exchange rates, credit growth, open market operations, money supply, and reduce lending interest rates... to provide capital for the economy at reasonable costs. The release and withdrawal of money must be smooth and reasonable, not jerky and create liquidity pressure for the banking system.

Source: https://phunuvietnam.vn/thu-tuong-yeu-cau-giam-lai-suat-cho-vay-dip-cuoi-nam-20241128114822676.htm