July 18, 2018 09:58

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State budget collection up 13%

20:30 | 12/09/2017

Total State budget collection in the first eight months of this year was estimated at 762 8 trillion VND 33 4 billion USD an increase of 12 8 percent over the same period last year

state budget collection up 13

The amount is equivalent to 63% of the whole year’s estimates, according to the Ministry of Finance.

In the reviewed period, domestic collection reached VND603.6 trillion (US$26.5 billion), up 10.7% year-on-year, accounting for 61% of the year’s estimates.

The ministry said budget revenues from crude oil exports, estimated at roughly VND29.97 trillion (US$1.3 billion), met 78.3% of estimates, up 11.3% over the same period in 2016.

Import-export activities contributed VND190.8 trillion (US$8.36 billion) to the State budget, an increase of 9.5% year-on-year and equaling 66.9% of projected revenues.

According to the ministry, total budget spending was VND793.5 trillion (US$34.8 billion), up 7.8% year-on-year, completing 57.1% of the yearly target. Of the estimate, budget investment for development was VND137 trillion (US$6 billion).

Regular expenditures in eight months were estimated at VND585 trillion (US$25.77 billion), equaling 65% of the year’s estimate, up 7.4% over the same period last year.

Debt payment and interest expenses during the period totaled VND68 trillion (US$2.98 billion), meeting 68.9% of annual target and increasing by 14.6% year-on-year.

Source: VNA