The slow growth comes mainly from state-owned banks, which have become more stringent on their loan disbursements.

Vietnam’s economic growth continues to be driven by the resilient foreign sector and robust domestic consumption.

There has been a positive shift in the credit structure that provides strong support to economic growth, with a major part of outstanding loans channeled to priority fields.

Statistical data remain objective, accurate and in compliance with laws, said Prime Minister Nguyen Xuan Phuc.

In 2020, the credit growth is expected to be in range of 13 – 13.5%, down from 13.7% last year.