The Government Office has issued an announcement on Deputy Prime Minister Le Minh Khai’s conclusions at a meeting on interest rate support package in accordance with the Government’s Decree No.31/2022/ND-CP dated May 20.
Hanoi - The Government Office has issued an announcement on Deputy Prime Minister Le Minh Khai’s conclusions at a meeting on interest rate support package in accordance with the Government’s Decree No.31/2022/ND-CP dated May 20.
|Deputy Prime Minister Le Minh Khai (Photo: VNA) |
The announcement said after nearly three months, the disbursement of the package remains limited.
The Deputy PM assigned the State Bank of Vietnam (SBV) to work closely with ministries and agencies concerned to review the Decree, the SBV’s Circular and guidelines, ensuring they are in line with the National Assembly’s Resolution No.43/2022/QH15 and the Government’s Report on fiscal and monetary policies in support of the socio-economic recovery and development programme.
In case any too strict regulations are discovered, they must report to competent agencies for revision.
He called for raising awareness of commercial banks, businesses, cooperatives and business households about the package, as well as establishing inter-sectoral working groups led by the SBV to grasp situation at commercial banks and tackle difficulties faced by them during the process.
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As securities and real estate sectors are not on the list to receive support, the 2 percent interest rate support package's positive effects on the stock market are not strong.
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Vietnam’s credit growth as of June 9 expanded by 17.09 percent against the same period last year, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu said on June 15.
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Large banks are starting to join the deposit interest rate hike race along with small- and medium-sized banks due to rising capital demand pressure after a long time staying out of the game.