Credit growth projected to reach 14-15% in 2023

Illustrative image (Photo: VNA)

The State Bank of Vietnam (SBV) has expected credit growth to hit 14-15% this year, leaving a possibility that it might adjust the orientation to suit the actual business situation and developments.

Many stock companies, however, predicted in their strategic reports that the growth will be about 13%. They explained that the lending interest rate is now at a high level, affecting the borrowing capacity and making production expansion projects less feasible.

Meanwhile, credit institutions projected credit balance of the entire system to increase by just 13.7% this year.

Credit growth reached approximately 13% last year, with most of credit serving production and trade./.