According to the report to the National Assembly of the State Bank of Vietnam (SBV), based on 13.89 percent growth of credit at the end of 2018 and the economic growth and inflation target in 2019, SBV set the target of credit growth at 14 percent, with flexible adjustments in accordance with the developments and the actual situation to control inflation, maintain macroeconomic stability, and support reasonable economic growth.
The latest data updated by SBV said that as of September 30, 2019, the credit increased by 9.4 percent compared to the end of 2018.
Credit structure continued to have positive adjustments, in which credit focused on production and business, priority areas. Credit for risky areas was strictly controlled. Foreign currency credit was regulated in line with the limit of dollarisation in the economy.
Specifically, in the field of business and production, by August 2019, credit to industry increased by 6.76 percent compared to the end of 2018, accounting for 19.61 percent, of which the processing industry and manufacturing increased by 6.4 percent, accounting for 14.98 percent. Credit for the construction industry increased by 7.61 percent, accounting for 9.66 percent. Credit for the service sector grew by 9.27 percent, accounting for 61.8 percent.
For priority areas, by August 2019, debit balance for agriculture and rural areas increased by about six percent compared to the end of 2018, accounting for approximately 24.26 percent of the total balance of the economy. Small and medium enterprises increased by 11.42 percent, accounting for 18.67 percent. The export sector increased by 13.21 percent, accounting for 3.16 percent. The supporting industry increased by 1.85 percent, accounting for 2.91 percent, and high-tech enterprises increased by 22.04 percent, accounting for 0.41 percent.
For potentially risky areas, as of August 2019, real estate credit (including both business and self-use) increased by 14.58 percent compared to the end of 2018, accounting for 19.14 percent of the total balance of the economy. Securities investment and trading increased by 8.7 percent, accounting for 0.4 percent. Credit for living needs rose by 13.92 percent, accounting for 20.69 percent. Also, it was estimated that by September 2019, Build Operate Transfer (BOT) and BuildTransfer (BT) traffic projects would increase by 1.85 percent, accounting for 1.4 percent.
