State Bank deploys 5 groups of solutions to stabilize the macro economy

The State Bank will deploy five groups of solutions to stabilize the macro-economy from now until the end of 2025 and achieve growth of 8.3-8.5% in 2025.

Deputy Governor of the State Bank Pham Thanh Ha at the press conference on the afternoon of September 6. Photo: Dinh Hiep

At the regular Government press conference held on the afternoon of September 6, reporters from press agencies asked representatives of the State Bank of Vietnam (SBV) about the direction of monetary and credit policy to achieve the goal of controlling inflation and stabilizing the macro economy from now until the end of the year, achieving growth of 8.3-8.5% in 2025, as well as achieving the target of double-digit growth or more in the following years.

Regarding this content, Deputy Governor of the State Bank Pham Thanh Ha said that since the beginning of 2025, the global economy has continued to face many risks and uncertainties, stemming from tariff policies, geopolitical tensions and unpredictable monetary policy roadmaps of major central banks.

Domestically, production and business activities of enterprises continue to face many difficulties, consumption and export are affected by the complex and unpredictable developments of the global economy as well as the international financial market.

In that context, the Government has set a target of 8.3-8.5% economic growth in 2025 to lay the foundation for double-digit growth in the following years. The State Bank is deeply aware that this is a very important political task, requiring decisive participation.

Accordingly, the State Bank has proactively and promptly implemented synchronous management solutions to promote economic growth in association with maintaining macroeconomic stability, controlling inflation, and ensuring major balances of the economy. As a result, up to now, the liquidity of the credit institution system has been guaranteed, the monetary market has been stable, and exchange rates have been flexible and in line with market conditions.

Specifically, the lending interest rate level continues to decrease, by the end of August 2025, the average lending interest rate decreased by about 0.6% compared to the end of 2024. The foreign exchange market liquidity is guaranteed, legitimate foreign currency needs are fully and promptly met, by the end of August 2025, the average interbank exchange rate increased by 3.45% compared to the end of the previous year. Regarding credit growth, it is positive compared to recent years, by August 29, 2025, the total outstanding credit balance of the whole economy reached 17.46 million billion VND, an increase of 11.82% compared to the end of 2024.

Credit programs and policies under the direction of the Government and the Prime Minister continue to be implemented vigorously and effectively by credit institutions, thereby providing timely capital for the economy. The results achieved in the management of monetary policy have contributed significantly to controlling inflation in line with the set targets.

Deputy Governor of the State Bank Pham Thanh Ha at the press conference on the afternoon of September 6. Photo: Dinh Hiep

Deputy Governor of the State Bank Pham Thanh Ha said that in the coming time, the global economic outlook is forecast to continue to face many difficulties, challenges and increasing risks, requiring policy management to closely follow the situation for proactive, flexible and effective implementation.

Accordingly, based on the socio-economic development orientation of the Party, National Assembly and Government, the State Bank will focus on the following key groups of solutions:

Firstly , flexibly and synchronously manage monetary policy tools and solutions at the right time and in the right amount, harmonizing exchange rates and interest rates, creating favorable conditions for production and business. Thereby promoting growth, ensuring macroeconomic stability and controlling inflation according to targets.

Second , continue to flexibly manage exchange rates, closely follow market developments, and be ready to intervene in the market when necessary to ensure stability in the foreign exchange market.

Third, direct credit institutions to continue making efforts to reduce operating costs and promote digital transformation, thereby striving to reduce lending interest rates, contributing to supporting businesses and people.

Fourth, credit management must be consistent with macroeconomic developments and capital absorption capacity to promptly supply capital to the economy.

Fifth , continue to closely coordinate with ministries and branches to promptly remove difficulties in implementing credit policies, creating favorable conditions for businesses and people to access bank credit capital.

“During the operation process, the State Bank will closely monitor domestic and international economic developments to promptly and flexibly operate monetary policy in accordance with practical requirements,” Deputy Governor of the State Bank Pham Thanh Ha emphasized.

Source: https://hanoimoi.vn/ngan-hang-nha-nuoc-trien-khai-5-nhom-giai-phap-on-dinh-kinh-te-vi-mo-715317.html