November 22, 2017 19:54

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Revenues in 9 months reached nearly 70% of the estimate

08:53 | 07/10/2017

VCN- In the first 9 months of 2017, the total State revenues reached 843 trillion VND, equivalent to 69.5% of the estimate. Due to the difficulties in production and business, so the direct revenue is low.

revenues in 9 months reached nearly 70 of the estimate In the first 8 months of 2017, Tax revenues of Ha Noi Taxation Department reached 62.5% of the estimate
revenues in 9 months reached nearly 70 of the estimate 8 months: Revenues from Customs reached over 190,000 billion VND
revenues in 9 months reached nearly 70 of the estimate Tax revenues increased highly thanks to FDI enterprises
revenues in 9 months reached nearly 70 of the estimate
Almost the indirect revenue is high. Photo: H.V

Increasing 13.9% of revenues

According to the Ministry of Finance, State revenue in September 2017 was estimated at 77 trillion VND. Thus, the total State revenue in the first 9 months of 2017 reached 843 trillion VND, equivalent to 69.5 of the estimate, an increase of 13.9% compared to the same period in 2016 (in 2016 reached 70.3% of the estimate, an increase of 4.5%). Specifically, domestic revenue in 9 months reached 663.7 trillion VND, accounting for 67% of the estimate, an increase of 11.4% compared to the same period in 2016. Domestic revenue excluding from land, lottery, dividend, remaining, profit and revenue from the sale of state-owned shares in enterprises are estimated at 519.3 trillion VND, equivalent to 66.4% of the estimate, an increase of 9.1% of the estimate compared to the same period in 2016.

Due to the unstable industrial production growth, the revenues from some major manufacturing sectors is even lower than the same period the previous year. Therefore, the direct revenues from business and production are generally low.

However, the total domestic revenue, in general, was still quite high compared to the same period of the previous year (up 13.9%), mainly from indirect revenues such as revenues from land and housing reaching 119.7% of the estimate, an increase 24.2% compared to the same period in 2016.

The progress of revenue collection of locals is quite high compared to the estimate and the same period of the year. It is estimated that revenues from 43 of 63 localities over 72% of the estimate and revenues from 58 of 63 localities are higher than the same period in 2016, revenues from 5 localities are lower than the same period in 2016 due to objective reasons.

Revenues from crude oil reached 34 trillion VND, equivalent to 88.9% of the estimate, an increase of 15% compared to the same period in 2016. The State revenues from imports and exports reached 214 trillion VND, equivalent to 75.1% of the estimate, an increase of 10.5% compared to the same period in 2016. Revenues after VAT refund reached 79.2%, an increase of 27.7% compared to the same period of 2016.

69% of deficit spending The total expenditure in September 2017 was estimated at 111 trillion VND. The accumulated expenditure of 9 months reached 904.6 trillion VND, equivalent to 65.1% of the estimate, an increase of 6.6% compared to the same period in 2016. In which: Expenditure for development was 166.6 trillion VND, equivalent to 46.6 % of the estimate, an increase of 4.1% compared to the same period in 2016. The disbursement for basic construction was estimated at 53.1% of the estimate (in 2016 reaching 56% of the estimate). Ministries and central agencies reached 55.4% of the estimate (domestic capital reaching 61.1%, foreign capital 49.2%); localities reached 52.8% of the estimate (domestic capital reaching 53.9%, foreign capital 43.2%).

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The disbursement for Government bonds has reached 3.5 trillion VND, equivalent to 7% of the estimate, reaching 18% compared to the estimate assigned by the Government (the same period in 2016 reaching 38.8%).

The expenditure for National reserves was 361 billion VND, equivalent to 42.5% of the estimate. The expenditure for repayment and aid were 75.35 trillion VND, equivalent to 76.2% of the estimate, an increase of 73.6% of the estimate, an increase of 7% compared to the same period in 2016.

It was estimated to the end of September 2017, the Central budget deficit spending was 69% of the estimate while local revenues are higher than expenditures.

By Hong Van/Ngoc Loan