This is a target forecasted by of the State Bank of Vietnam (SBV) in the explanatory report for the hearing of Governor Nguyen Van Binh at the National Assembly Standing Committee on the coming September 29, local newswire VnEconomy reported.
One of the bases for the above forecast is the social-economic development plan for 2015 which strives at GDP growth rate of 6-6.2% and inflation at around 7%.
Accordingly, the total means of payment will increase 16-18%, outstanding loans will rise 12-14% compared to the end of 2014 and be based on actual developments to adjust accordingly.
The exchange rates will also be operated flexibly to ensure stable value for Vietnam dong and raise the foreign exchange reserves.
According to report, as of August 29, 2014, compared to the end of 2013, the total means of payment rose 9.09% and capital mobilization grew 8.52%. In which, mobilization in VND rose 9.94% and mobilization in foreign currencies slipped 0.1%.
According to the Governor, as of August 29, 2014, credit to the economy grew 6.21% from the end of 2013 and 12.35% year-on-year.
And, according to the Governor’s forecast by at the end of the year, credit growth is likely to reach about 10%.