2-6-2023 (HANOI) Deputy Governor of Vietnam’s central bank, Dao Minh Tu, stated on Wednesday that borrowing in the country’s high-risk sectors is being effectively managed.
Tu emphasized that credit growth, currently standing at 3.36 percent as of June 15 compared to the end of 2022, is not as high as anticipated. However, efforts to increase credit growth remain a key objective, he added.
Vietnam’s corporate bond and stock markets are currently encountering challenges, Tu acknowledged.
Furthermore, Tu noted that inflation remains below 4 percent, and the State Bank of Vietnam (SBV) continues to bolster its reserves by purchasing foreign currency.
Last week, the SBV implemented its fourth interest rate cut this year in order to stimulate economic growth, particularly as the manufacturing-led economy faces weakened conditions amidst a global demand slowdown.
