Prime Minister Pham Minh Chinh has requested the State Bank of Vietnam (SBV) and relevant ministries and agencies to continue the implementation of a more proactive, flexible, timely, effective monetary policy which has proved effective over the past time.

Chairing a meeting on the monetary policy with leaders of the SBV and relevant ministries and agencies on August 5, PM Chinh noted that the implementation of the monetary policy and the operation of the banking system would still face many challenges due to inflation pressure, increasing interest rates, credit growth failing to meet requirements, an increasing demand for capital during  the year-end period, and unpredictable and complicated geopolitical risks and tensions globally.

The Government leader urged them to follow the situation in the coming time; and coordinate synchronously, harmoniously and closely with the expanded fiscal policy and other macro policies to promote economic growth, ensure macroeconomic stability, control inflation, and ensure major balances of the economy.

He asked them to promote digital transformation; reduce lending interest rate; effectively implement policies to extend, exempt and reduce taxes, fees and charges; boost public investment; and increase credit for traditional growth drivers and new growth drivers; handle bad debts; and tighten management over the gold and forex markets.