Total revenue of the State budget in January was estimated at 114.2 trillion VND (5 billion USD), equivalent to 8.7 percent of the year’s estimate and up 5.2 percent from the same period last year, according to the Finance Ministry.
Domestic revenue, estimated at VND95.5 trillion, reduced from the same period last year. The figure was equal to 98.6% of the revenue in January 2017, but equivalent to 8.7% of estimate.
Meanwhile, revenue from crude oil surged 48.6% year on year, reaching around VND4.1 trillion and accounting for 11.4% of estimate. The Finance Ministry attributed the increase to high world price, with Vietnam’s oil fetching an estimated US$66 per barrel, US$16 higher than expected price and US$7.4 higher than the price in the same period last year.
Revenue from foreign trade was estimated at VND22.5 trillion, up 9.6% on year.
In the same period, State budget spending was estimated at VND91.5 trillion, equal to 6% of estimate. Debt payment accounted for 15.5%.
Government bonds worth more than VND16.5 trillion were issued in January, ensuring money supply for spending and debt payment.