HANOI, March 14 (Xinhua) -- The total credit of Vietnam's economy as of Feb. 29 dropped 0.72 percent compared to late 2023, local media reported Thursday, citing the State Bank of Vietnam.
The bank's deputy governor Dao Minh Tu said the current downward trend had been reported in the majority of economic sectors.
Credit of real estate and securities sectors are the only two recording an upward trend during the two-month period, increasing 0.23 percent and 2.56 percent year on year respectively, Tu said.
"With abundant liquidity and ample room for credit growth, credit institutions now have favorable conditions to provide loan capital to the economy," he said.
The total credit of Vietnam's economy grew 13.5 percent to reach nearly 558.3 billion U.S. dollars as of 2023, according to the central bank.
The bank has set a credit growth target of 15 percent for the domestic banking system in 2024. ■
