July 16, 2018 23:19

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The State budget deficit in 2018 at 3.7% of GDP

07:49 | 09/01/2018

VCN- The Ministry of Finance has issued Decision 2610/QD-BTC publicly announcing the estimate of State budget in 2018.

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the state budget deficit in 2018 at 37 of gdp

The domestic revenue in 2018 which must be collected by the Tax sector is VND 1,099,300 billion. Photo: H.V

Specifically, total State revenue is VND 1,319,200 billion, in which the domestic revenue is VND 1,099,300 billion; revenue from crude oil is VND 35,900 billion, revenue from imports and exports is VND 179,000 billion and aid revenue is VND 5,000 billion.

The total State expenditure is VND 1,523,200 billion including VND 399,700 billion for development investment, VND 112,518 billion for debt interest payment, VND 1,300 billion for aid , VND 940,748 billion for recurrent expenditure, VND 35,767 billion for wage reform and staff cutting, VND 100 billion of additional expenditure for financial reserve fund and VND 32,097 billion for the State budget reserve.

The State budget deficit in 2018 is limited to VND 204,000 billion, equivalent to 3.7% of GDP. In particular, the central budget deficit is VND 195,000 billion and the local budget deficit is VND 9,000 billion. The expenditure for original debt payment is decided at VND159, 744 billion. The total State’s loan is VND 363,284 billion.

The balance of revenues and expenditures of central budget and local budgets in 2018 is also specified.

The total central budget revenue is VND 753,404 billion. Revenues from taxes, fees and others is VND 748,404 billion and revenues from the aid is VND 5,000 billion.

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The total Central budget expenditure is VND 948,404 billion. The Central budget expenditure under level (excluding additional expenditure for local budget) is VND 627,253 billion. Additional expenditure for local budget is VND 321,151 billion (Balanced additional expenditure is VND 198,699 billion and targeted additional expenditure is VND 122,452 billion). The Central budget deficit is VND 195,000 billion.

Total local revenue is VND 886,947 billion, of which, the local revenue allocated under level is VND 565,796 billion. Additional revenue from the central budget is VND 321,151 billion (balanced additional revenue is VND 198,699 billion, targeted additional revenue is VND 122,452 billion).

The total local expenditure is VND 895,947 including VND 773,495 billion (excluding the central targeted additional expenditure) under level and VND 122, 452 billion from targeted additional sources of the central budget. The local budget deficit is VND 9,000 billion.

By Hong Van/Ngoc Loan