Vietnamese credit growth hits 4.8 pct in 4 months

By：Xinhua Update：2017-05-10

The credit growth of Vietnamese economy reached 4.8 percent as the end of April, 2017 compared to that in the beginning of the year, posting the highest increase for the same period since 2013.

The solid increase reflects local businesses' improved capacity to absorb capital recently, experts said, quoted by local Tien Phong (Pioneer) newspaper on Wednesday.

In the mentioned period, credit balance of the production and business sector accounted for some 80 percent of the total credit growth, said Nguyen Quoc Hung, head of the Credit Department under the State Bank of Vietnam (SBV).

Earlier in January 2017, Vietnam set the yearly target of achieving a 18 percent credit growth against that of 2016. In the first quarter this year, credit growth posted a six-year high of 4.03 percent as published by the SBV.