Vietnam will pump more cash into its economy in the second half of this year, which would lead to annual credit growth of 12-13 percent for the whole of 2012, Deputy Prime Minister Nguyen Xuan Phuc said on Friday.

More loans were expected to help ease the funding burden faced by businesses so far this year, Phuc told a televised session of the National Assembly.

Vietnam initially aimed for an annual lending expansion of 15-17 percent, against growth of 14.4 percent last year, but loans have been growing very slowly so far this year, partly due to high interest rates and banks trying to avoid bad debt.

Source Reuters