Vietnam’s economic outlook has brightened since the third quarter of 2013 thanks to improvements in production, according to the National Financial Supervisory Commission (NFSC).
A report on Vietnam ’s macro economy in 2013 and prospects in 2014 released by the NFSC on April 24 revealed that the economy has been stablised with low inflation and a stable forex rate.
Investor confidence has been consolidated, the report said, noting that the target of a 5.8 percent growth rate is within reach.
The commission forecast that inflation rate will stand at 5 percent in 2014. However, the reliance on foreign-invested enterprises remains an obstacle to the country’s economic growth.
In another report on the financial market in 2013, the commission uncovered a bright picture of the banking sector, with increased liquidity and the outstanding credit balance rising by 12.5 percent.
Bad debt has been tamed, hovering at around 9-10 percent, the report said.
Credit growth climbed from 9.8 percent in 2012 to 12.5 percent in 2013. Meanwhile, the average interest rate was brought down from 20 percent in 2011 to about 12 percent last year.
Despite good assessments of the stock and Government bond markets, the commission pointed out a range of economic challenges. These include limited credit absorption and prolonged bad debt settlements.
In general, the report said, economic policies are making it easier for credit growth.-VNA
A report on Vietnam ’s macro economy in 2013 and prospects in 2014 released by the NFSC on April 24 revealed that the economy has been stablised with low inflation and a stable forex rate.
Investor confidence has been consolidated, the report said, noting that the target of a 5.8 percent growth rate is within reach.
The commission forecast that inflation rate will stand at 5 percent in 2014. However, the reliance on foreign-invested enterprises remains an obstacle to the country’s economic growth.
In another report on the financial market in 2013, the commission uncovered a bright picture of the banking sector, with increased liquidity and the outstanding credit balance rising by 12.5 percent.
Bad debt has been tamed, hovering at around 9-10 percent, the report said.
Credit growth climbed from 9.8 percent in 2012 to 12.5 percent in 2013. Meanwhile, the average interest rate was brought down from 20 percent in 2011 to about 12 percent last year.
Despite good assessments of the stock and Government bond markets, the commission pointed out a range of economic challenges. These include limited credit absorption and prolonged bad debt settlements.
In general, the report said, economic policies are making it easier for credit growth.-VNA
