SB: Focus funding for priority areas

SB determined later this year will focus on investment in priority sectors; loans to promote the sale of goods, inventory reduction, investment in key projects ...


At the conference Deployment task last 6 months in 2013 held the morning 17/6 in Hanoi, the central bank said in the first place, the State Bank will continue to determine the persistence of prudent monetary policy, tight and flexibility.

   Besides controlling inflation lower in 2012, the central bank also targets 2013 credit growth at 12%.

The total means of payment increases, interest rates continue to fall

Over 6 months, the tools of monetary policy has been central bank operates a flexible and comprehensive way, the amount of operating flexibility through the channel to control the money supply, ensure the stability of money market currency, foreign exchange, while ensuring monetary control.

Up to 31/5, total liquidity increased 5.46% compared to the end of 2012, quite in line with the orientation of 14-16% for the whole of 2013.

Policy interest rates have also been operating in line with macroeconomic developments, currency, especially the evolution of inflation, such as raising the interest rate and lending continues to decline. 6 months of the year, the central bank has revised down 2% / year interest rates and operating short-term interest rates exceed USD for priority areas and decreased 0.5% maximum interest rate was VND in terms of 1 to less than 12 months.

Besides, the central bank also continues to enhance close monitoring of compliance with the regulations on deposit interest rate of the credit institutions. The management of the central bank's credit measures are implemented towards credit expansion coupled with the safety and operation of credit institutions, in accordance with the operating target of monetary policy. As of 31/5, the credit growth for the economy reached 2.98%, higher than the same period last year and continues to improve ...

In addition, a lack of liquidity at the end of 2012, so far USD liquidity of the system has been significantly improved, ensuring liquidity and payment system. The foreign exchange market and the exchange rate was kept stable by the consistency of the solutions, the contract between the policy rate and interest rates, improving confidence in Vietnam dong, reducing the dollarization of the economy.

Focus funds for priority areas

To date, five commercial banks are actively guiding the implementation of subsidy for social housing from 30 trillion package. Along with the life from the ministries, branches and localities concerned, the important policy of the Government is gradually being brought to life.

To achieve targets 12-14% credit growth, the central bank identified in the last 6 months the system will implement solutions to remove difficulties for production, marketing assistance, resolve bad debts by policies and measures proposed by the Government.

Specifically, the central bank will focus on effective credit expansion, focused investment in priority sectors (agriculture, rural areas, export, supporting industries, small and medium-sized businesses and enterprises tech applications), loans to promote the sale of goods, inventory reduction, investment in key projects generate spillovers and serve consumer needs of the people essential to ensure safety social.

At the same time, the central bank will take steps expeditiously and the procedures necessary to soon Asset Management Company of the Credit Institutions (VAMC) in operation in order to accelerate the processing of bad debt, widened lines credit in the economy ...