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As of June 30, the credit growth of the whole economy reached 9.35%.

07/07/2022

Corresponding to this growth is VND 125,000 billion injected into the market in the last 20 days of June.

According to data announced by the State Bank at the online conference "Implementing Decree 31 of the Government on supporting enterprises, cooperatives and business households with 2% interest rate", as of June 30, 2022, credit of the whole economy reached over VND 11.4 million billion, an increase of 9.35% (the same period in 2021 recorded an increase of 6.47%).

Previously, as of June 9, 2022, credit of the whole system increased by 8.15% compared to the end of 2021. Thus, within 20 days, credit growth increased by 1.2 percentage points, equivalent to a scale of about VND 125,000 billion.

Compared with data from the General Statistics Office: as of June 20, 2022, credit growth reached 8.51%, it is estimated that in the last 10 days of the month, credit has increased by 0.84 percentage points, equivalent to nearly 70,000 billion dong was pumped into the market.

In addition, as of the end of June, according to the SBV, capital mobilization reached over VND 11.8 million billion, an increase of 4.51% compared to the end of 2021 (in the same period in 2021, an increase of 4.09% was recorded).

Credit institutions have restructured the repayment term, keeping the accumulated debt group at VND 709,038 billion, the total amount of interest exempted, reduced and lowered for customers affected by the Covid-19 pandemic has reached over VND 50,000 billion.

According to SBV Deputy Governor Dao Minh Tu, the sharp increase in credit in the first two quarters of the year proves that the economy has prospered and recovered positively. The pandemic situation has getting better and businesses are restoring production and business, people are also returning to normal life, therefore, the capital demand is quite high at this time.

The Deputy Governor said that in the upcoming period, good credit growth along with the impact of the economic stimulus package will provide good support for the economy's recovery and growth.

In 2022, the SBV expects credit growth of 14%. However, this target can be adjusted at the end of the year depending on the actual situation. It may increase or decrease.

 

Kylie Nguyen

© 2019 Vietnam Bank for Agriculture and Rural Development No. 2 Lang Ha street, Ba Dinh district, Hanoi, Vietnam
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