78% of outstanding credit is focused on production and business.

VTV.vn - The above information was given by the State Bank at a press conference on the morning of October 3.

78% of the economy 's outstanding debt serves the production and business sector, the rest is consumer loans and life needs. In particular, some priority sectors under the direction of the Government account for large outstanding debt such as: agriculture accounts for 22.7%, small and medium enterprises account for over 19%.

Many credit packages are being actively implemented by banks such as the 500,000 billion VND credit package for loans to invest in infrastructure and digital technology , and the 185,000 billion VND package for loans to agriculture, forestry and fisheries.

Along with credit expansion, the State Bank also requires banks to strictly control lending risks to avoid new bad debts.

Mr. Pham Chi Quang - Director of Monetary Policy Department, State Bank of Vietnam said: "Banks with high credit ratings, good ratings and the ability to manage healthily, safely, and sustainably grow credit, we have made adjustments to ensure that credit institutions are able to supply capital to the economy. If the current situation of credit institutions with good capital mobilization and healthy growth is put into sustainable sectors, growth drivers of the economy, taking advantage of economic priorities, it is expected that from now until the end of the year, credit growth can reach 19 - 20%".

The State Bank said it has just issued a document directing banks to proactively review and assess the situation of customers who are borrowing capital and are affected by storm No. 10 in order to promptly apply support measures and resolve difficulties such as: restructuring debt repayment terms, considering loan interest exemptions and reductions, and continuing to provide new loans to restore production and business after the storm according to regulations.

Source: https://vtv.vn/78-du-no-tin-dung-tap-trung-cho-san-xuat-kinh-doanh-100251003150418371.htm