Overview of the Banking-Finance industry in 2019

Abstract

 The year 2019 has closed with many positive indicators in Vietnam’s macroeconomics: GDP has kept at a high growth rate of 7.02% despite of a slowdown in the world economy; exports increased by 8%; inflation was controlled at 2.79% lower than early year expected rate of less than 4%. The macro fundamentals was strengthened while budget execution was better, the exchange rate was stable and the interest rate decreased slightly ... Those achievement of Vietnam’s economy were highly appreciated in the context of instability in the world economy and an unpredictable tensions in US-China commercial relations when China, the largest trading partner of Vietnam, has devalued its local currency in order to cope with the trade conflict in 2019. So it can be said that by applying flexible monetary policy management and good banking operation administration, SBV has paid a great contribution to the achievement of Vietnam economy 2019. This article reviews prominent events of the Banking-Finance industry in 2019 and provide diversified perspectives on the operation of the Banking-Finance industry.