The Government requested an inspection of the State Bank's credit "room" allocation.

SGGPO December 2, 2023 10:30

The Government Office has just sent an official dispatch to the Government Inspectorate and the State Bank of Vietnam (SBV) regarding the inspection of credit growth management.

The dispatch stated that the Government, the Government Standing Committee and the Government leaders have issued many written instructions requesting the State Bank of Vietnam to promptly and effectively implement solutions to manage credit growth, determine the credit growth limit for the whole year of 2023 in accordance with the practical situation, ensure adequate credit supply to serve the economy and ensure the safety of the credit institution system. At the same time, increase access to credit for businesses and people, contribute to removing difficulties for production and business, and promote economic growth.

However, up to now, credit growth in 2023 is still low, not reaching the set target, access to credit capital is still difficult, the allocation of credit growth limits to credit institutions is not really scientific , timely, effective, and there are still comments from National Assembly Deputies and experts.

To promptly strengthen state management and improve the efficiency of credit growth management, Deputy Prime Minister Le Minh Khai assigned the Government Inspectorate to inspect the performance of assigned functions and tasks of the State Bank of Vietnam in credit growth management, building, assigning, and adjusting credit growth targets and limits in 2022 and 2023, and the management and supervision of credit growth implementation; report to the Prime Minister on the implementation in December 2023 and the inspection results in January 2024.

Credit growth by the end of November only reached about 8.4%, about 14% lower than the plan set for the whole year of 2023.

Source: https://www.sggp.org.vn/chinh-phu-yeu-cau-thanh-tra-viec-cap-room-tin-dung-cua-ngan-hang-nha-nuoc-post716603.html