Credit growth projected to reach 14-15% in 2023

Illustrative image (Photo: VNA)

Hanoi (VNA) – The State Bank of Vietnam (SBV) hasexpected credit growth to hit 14-15% this year, leaving a possibilitythat it might adjust the orientation to suit the actual business situation anddevelopments.

Many stock companies, however, predicted in their strategicreports that the growth will be about 13%. They explained that the lending interestrate is now at a high level, affecting the borrowing capacity and making productionexpansion projects less feasible.

Meanwhile, credit institutions projected credit balance ofthe entire system to increase by just 13.7% this year.

Credit growth reached approximately 13% last year, with most of credit serving production and trade./.

VNA