Fri, 27 Jan 2023

HANOI, Jan. 20 (Xinhua) -- Vietnam's central bank has pledged to keep monetary policy flexible as part of the efforts to keep inflation under 4.5 percent and ensure steady markets, local media reported on Friday.

The bank set the credit growth quota for the year at 14 to 15 percent, aiming to ensure liquidity for all lenders, local newspaper Vietnam News said.

The bank requires them to keep their bad debt ratio to below 3 percent and continue with the restructuring of weak credit institutions.

One of the ultimate political tasks of the central bank in 2023 is to control the inflation, Deputy Governor of the central bank Dao Minh Tu told a conference.

The central bank will closely monitor the economic landscape and the situations in the world and the domestic economy to manage the monetary policy in an active and flexibly manner in close coordination with the fiscal policy and other macro-economic policies, so as to control inflation and maintain macro-economic stability, he said.

According to local experts, Vietnam's target to keep inflation at 4.5 percent in 2023 will be a tall order due to a number of factors, including demand-driven and cost-pushed inflation.

The Standard Chartered Bank forecast Vietnam's economy to expand by 7.2 percent and inflation to reach 5.5 percent this year.

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