Though facing many difficulties, the State Bank of Vietnam (SBV) has worked to deal with the problems in 2022, contributing to strengthening macro foundations, according to SBV Governor Nguyen Thi Hong.

Inflation was kept under control at a low average of 3.2 per cent, while the country posted high economic growth of more than 8 per cent and the monetary market and foreign exchange market were basically stabilized, she told a meeting in Hanoi on December 28 to review the banking system’s performance in 2022 and discuss tasks in 2023.

Speaking at the meeting, Prime Minister Pham Minh Chinh applauded the banking system’s outstanding performance in 2022, emphasizing that it contributed to controlling inflation and maintaining macroeconomic stability and high economic growth.

An array of solutions were employed and credit products diversified to help enterprises and people restore production and business, he said.

He tasked the banking sector with ensuring monetary security and safety as well as the legitimate rights and interests of individuals, businesses, and other relevant parties in 2023 and subsequent years.

The banking sector should operate transparently and healthily, with liquidity flowing smoothly in any circumstances, he said.

He asked that the SBV keep exchange rates and interest rates as well as inflation control and economic growth balanced, and ensure reasonable and effective credit growth, while contributing to removing difficulties in production and business.