HCMC – With a 15% credit growth target set for 2024, an additional VND2 quadrillion will be injected into the economy this year, said a leader of the State Bank of Vietnam (SBV) at a press conference on January 5.

Last year credit expanded by 13.71% year-on-year to VND1,500 trillion, the central bank’s deputy governor, Dao Minh Tu, told the assembled reporters. Tu said the SBV, the central bank, had decided to allocate credit growth quotas to banks right at the beginning of the year to allow them to actively draw up business plans for the entire year. Should economic conditions turn more favorable in the middle and late stages of 2024, the SBV would consider revising up the credit growth target, thus enabling banks to get extra credit growth quotas.