If the economy is stable, businesses operate effectively in production and business, Vietnam can prevent the COVID-19 epidemic and inflation is controlled at a low level, interest rates will be maintained at current levels, and may even be possible. decrease further in the near future. Because right from the beginning of 2020, the State Bank could not predict that there would be 3 reductions in operating interest rates. Due to the impact of the pandemic, credit demand decreased. It is estimated that this year, credit will increase by 11%, lower than previous years. Lending interest rates decreased by an average of about 1%/year compared to the end of last year. The maximum short-term loan interest rate in VND for some priority industries and fields is 4.5%/year.
It is expected that credit in 2021 is estimated at 12%, consistent with the level of capital absorption of the economy. Credit will still focus on production, business, consumption and priority areas including 5 target groups: small and medium-sized enterprises, rural agriculture, exports, and high-tech enterprises....