Vietnam’seconomic outlook has brightened since the third quarter of 2013 thanksto improvements in production, according to the National FinancialSupervisory Commission (NFSC).
A report onVietnam ’s macro economy in 2013 and prospects in 2014 released by theNFSC on April 24 revealed that the economy has been stablised with lowinflation and a stable forex rate.
Investorconfidence has been consolidated, the report said, noting that thetarget of a 5.8 percent growth rate is within reach.
The commission forecast that inflation rate will stand at 5 percent in2014. However, the reliance on foreign-invested enterprises remains anobstacle to the country’s economic growth.
Inanother report on the financial market in 2013, the commission uncovereda bright picture of the banking sector, with increased liquidity andthe outstanding credit balance rising by 12.5 percent.
Bad debt has been tamed, hovering at around 9-10 percent, the report said.
Credit growth climbed from 9.8 percent in 2012 to 12.5 percent in2013. Meanwhile, the average interest rate was brought down from 20percent in 2011 to about 12 percent last year.
Despite good assessments of the stock and Government bond markets, thecommission pointed out a range of economic challenges. These includelimited credit absorption and prolonged bad debt settlements.
In general, the report said, economic policies are making it easier for credit growth.-VNA
A report onVietnam ’s macro economy in 2013 and prospects in 2014 released by theNFSC on April 24 revealed that the economy has been stablised with lowinflation and a stable forex rate.
Investorconfidence has been consolidated, the report said, noting that thetarget of a 5.8 percent growth rate is within reach.
The commission forecast that inflation rate will stand at 5 percent in2014. However, the reliance on foreign-invested enterprises remains anobstacle to the country’s economic growth.
Inanother report on the financial market in 2013, the commission uncovereda bright picture of the banking sector, with increased liquidity andthe outstanding credit balance rising by 12.5 percent.
Bad debt has been tamed, hovering at around 9-10 percent, the report said.
Credit growth climbed from 9.8 percent in 2012 to 12.5 percent in2013. Meanwhile, the average interest rate was brought down from 20percent in 2011 to about 12 percent last year.
Despite good assessments of the stock and Government bond markets, thecommission pointed out a range of economic challenges. These includelimited credit absorption and prolonged bad debt settlements.
In general, the report said, economic policies are making it easier for credit growth.-VNA
