VN PM urges lower interest rates
THE Vietnamese government has instructed its corresponding administrative authorities to aim for a 0.5 percent decrease in lending interest rates from now until the end of 2017, while keeping taxes, f e e s a n d o t h e r c h a r g e s unchanged, in order to propel the current disbursement rate in public spending and boost businesses’ productivity.
Under Resolution 84/NQ-CP issued last week, Prime Minister Nguyen Xuan Phuc signed the request for the State Bank of Vietnam (SBV ) to take the initiative in monitoring the money supply and general monetary policy to suit the actuality of the country’s macroeconomic flows based on inflation rates and the money market.
At present, the prime minister has asked the SBV to strive for both a 0.5 percent interest rate reduction and a 21 to 22 percent annual credit growth rate for 2017.
Simultaneously, the Ministry of Planning and Investment (MPI), Ministry of Finance (MoF), and other central and local departments or agencies will shift their focus to accelerating the disbursement rates for public investment, as stated in Resolution 70/NQ-CP.