Prime Minister Phạm MInh Chính speaks at the conference to implement monetary management tasks 2024. — Photo baochinhphu.vn

Prime Minister Phạm Minh Chính and Deputy Prime Minister Lê Minh Khái chair the meeting to implement monetary policy management tasks 2024 this morning, which focuses on removing difficulties for production and business to promote growth and ensure macroeconomic stability.

Addressing challenges from global economic uncertainties, Chính said that it is critical for Việt Nam to apply solutions to overcome the difficulties.

Credit growth rate drops in the first two months of this year compared to the same period last year, while the deposit volume remains huge at VNĐ14 quadrillion.

Other problems include high lending rates, rising non-performing loans, stagnant handling of weak banks and slow disbursement of credit support packages.

PM askes participants, especially commercial banks, to discuss and propose solutions to tackle problems regarding interest rates and exchange rates management to strengthen macroeconomic stability and control inflation.

Discussion should also focus on why enterprises still complain that they face capital shortage and difficulties in accessing banking credit, while deposits keep rising on low deposit rates.

He also questions whether the credit flow goes to the targeted sectors, and asks about the best policies to improve enterprise’s access to banking credit as well as their capital absorption.

The conference also discusses measures to ensure the credit growth rate as set at 15 per cent for the full year, and continue to cut rates. — VNS