Vietnam 10M Credit Growth Forecast at 3%: NFSC

Total lending of the entire banking sector is expected to climb to 3% by the end of October this year, representing a modest rise of 0.5% on month, according to the latest report of the National Financial Supervision Committee (NFSC).

Experts project full-year lending expansion at only 4-5% in 2012, well below the government’s expectation of 8-10%.

Vietnam consumer price index (CPI) in October is estimated to have risen by 0.85% from September after surging 2.2% in the earlier month, the General Statistics Office said.

The October figure extended price index to up 6.02% in the first ten months of this year and 7% on year. Excluding seasonal factors, October CPI only inflated 0.5% from September.

Notably, prices of food and food stuff posted an on-month increase of 0.28% in October owing to seasonal factors after seven months of slowdown, leading the figure to 0.81% in 10M.

Inflation is expected to be tamed at 7-8% in 2012.

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