PM Nguyễn Tấn Dũng highly spoke of efforts made by the banking sector in the first half of the year to mitigate negative impacts of the global financial and economic crisis through a series of flexible monetary policies.

Thus, the monetary institution and banking activities have been perfected, financial and monetary markets stabilized. For the first six months, the capital mobilization rose up by 16.2% and credits for economic activities up 17%. Banking technologies and e-payment systems have been further upgraded.

The Government chief applauded banks for seriously realizing the policy on interest rate subsidies applied for loans given to poor households, rural areas and beneficiaries of social policies.

The realities show that the policy has helped to stimulate the economy, assist enterprises to reduce cost prices of their products, save investment costs, maintain business activites and generate more jobs, said the PM.

PM Dũng urged the banking sector to make greater efforts in the remaining months to put into reality all economic norms just approved by the National Assembly. “Monetary policies are the key for preventing inflation and economic recession,” noted the PM.

He asked the SBV to focus on credit and monetary solutions to prevent the economic downturn, maintain macro-economic stability, secure the system’s safety and control inflation.

The SBV should also tighten its supervision over the operations of commercial banks, paying attention to loans with subsidized interest rate, foreign exchange management, and loan contracts./.

By Xuân Hồng