On the afternoon of July 3, at a regular Government press conference, the press raised questions about credit growth.
"According to statistics from the State Bank, by the end of May 2025, credit in the whole economy increased by 6.52%, outstanding credit in the whole economy increased by a record of more than 1 million billion VND, to more than 16 million billion VND.
It is recommended to tell us which areas are the credit capital pumped into the economy, what is the proportion?" - the press asked the State Bank.
Responding to this issue, Deputy Governor of the State Bank Pham Thanh Ha said that since the beginning of the year, the State Bank has kept the operating interest rates unchanged, maintained a stable interest rate level, and created favorable conditions for promoting credit growth.
Commercial banks actively implement the direction of the State Bank in maintaining stable deposit interest rates, saving costs to reduce lending interest rates. The average lending interest rate is 6.38%/year, down about 0.6%/year compared to the end of 2024.
According to Mr. Pham Thanh Ha, in order to promptly meet the credit capital needs of businesses and people, contributing to promoting economic growth, the State Bank has set a credit growth target for 2025 of 16%, adjusted according to the actual situation.
As of June 26, outstanding loans of the whole system reached over VND 16.9 million billion, up 8.3% compared to the end of 2024, up 18.87% over the same period in 2024. The Deputy Governor emphasized that this is also the highest credit growth rate since 2023.
The credit structure is suitable for the economic structure, meeting the credit needs of people and businesses, in which the agriculture, forestry and fishery sector accounts for 6.37%; the processing and manufacturing industry accounts for 12.84%; the construction industry accounts for 7.53% (including infrastructure investment projects); the retail and wholesale sector accounts for 23.74%.
Some sectors with a large proportion of total outstanding credit in the economy continue to grow quite well. These include sectors that contribute to promoting growth, such as: Agriculture, rural areas and small and medium-sized enterprises continue to account for a large proportion of the total outstanding loans of the economy, respectively, at 23.16%, 17.51%.
The supporting industry and high-tech enterprises have credit growth rates twice as high as the average of the economy, respectively, of 15.69% and 17.59%.
Credit institutions have actively disbursed credit programs under the direction of the Government and the Prime Minister, such as: The credit program for the forestry and fishery sector has increased the scale from VND 15,000 billion to VND 100,000 billion, the credit program to support the linkage of production, processing and consumption of 1 million hectares of high-quality and low-emission rice in the Mekong Delta.
Some other programs such as: Social housing loans; loans for young people under 35 years old to buy, rent, or lease social housing, a credit program of VND500,000 billion for businesses investing in infrastructure, digital technology, policy credit programs, etc. are also being actively implemented by credit institutions.
The Deputy Governor of the State Bank said that in the last months of the year, the State Bank will continue to implement credit management solutions in line with macroeconomic developments, inflation and the economy's ability to absorb capital. At the same time, promptly deploy solutions to remove difficulties, creating favorable conditions for people and businesses to access bank credit capital.
