Credit growth posted an increase in the first quarter of 2024, showing that lending and deposits have been used effectively by commercial banks, according to Mr. Pham Xuan Hoe, former Deputy Director of the Institute of Banking Strategy. The volume of deposits in the economy also shifted to other investment channels such as gold, real estate, and stocks. Mr. Hoe forecasts that lending rates and deposit interest rates will both increase by 0.5-0.8 per cent and the exchange rate about 3 per cent. Access to capital by small and medium-sized enterprises (SMEs) still faces difficulties. Mr. Hoe made three recommendations: calculating changes in the target inflation rate of 4.5 per cent; stronger use of fiscal policy to stimulate the economy; and the establishment of a National Credit Guarantee Fund for SMEs.