Although the Vietnamese economy is expected to recover faster in the second half of 2022, various risks still lie ahead, adding uncertainty to the recovery.
The COVID-19 pandemic is weighing on the banking system’s non-performing loans (NPLs), requiring significant effort to keep NPLs ratio below three per cent by the end of this year as targeted by the Government.
The Government should enhance macro-economy stability to strengthen the national economy before risks appear, said members of the National Financial and Monetary Policy Advisory Council at a meeting on Tuesday.
Deputy PM Vuong Dinh Hue asked the National Financial and Monetary Policy Advisory Council to view science-technology as a ‘driver of growth’ rather than just an academic subject in its development process.
The implementation of financial and monetary policies must assure that the country’s economic growth is stable and protected from strong volatility in the second half of 2018, Prime Minister Nguyen Xuan Phuc said yesterday.
Việt Nam must continue to maintain stability, accelerate restructuring
and improve the competitiveness of the economy in the face of ongoing
global headwinds, members of a think-tank report.
The National Financial and Monetary Policy Advisory Council will
concentrate on dealing with the reorganisation of credit institutions
and State-owned enterprises, and handling bad debts during the rest of
the year.
Lending by the banking sector must grow by 1.25 per cent per month for
the rest of the year if the country hopes to meet its full-year target
of 12 per cent, according to a National Financial Supervisory Committee
report.