Credit Growth to Fetch 17 Pct in 2015
Credit growth was estimated at 14.5-15 percent in the first 11 months and was forecast at 17 percent for the whole year, according to the State Bank of Viet Nam (SBV).
The SBV reported that the norm on credit growth has been fundamentally fulfilled.
The credit flow contributed to spurring GDP growth rate to 6.5 percent.
From 2006-2010, credit growth surged 30 percent but GDP fluctuated at 7 percent. The pumping of banking capital halved but economic growth rate was maintained.
The capital flow served production and ensured practical and sustainable economic growth instead of going to vulnerable and bubble sectors such as real estate and securities.
VGP
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