August 25, 2019 20:11

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State budget revenue in first two months increased by 18.2%

14:53 | 12/03/2019

VCN- At the end of February 2019, the total state budget revenue reached nearly VND 246.5 trillion, equaling 17.5% of the estimate, up 18.2% over the same period in 2018.

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Due to the influence of the Lunar New Year, the domestic revenue in February was estimated at 69.5 trillion, only half of the previous month's revenue. Photo: H.Van.

Revenues reached 84.8 trillion VND

At the beginning of 2019, the Ministry of Finance issued a decision for an action program to implement the Government's Resolution No. 01/NQ-CP on the main tasks and solutions to implement the Social - Economic Development Plan - and State budget estimates in 2019, and Resolution No. 02/NQ-CP of the Government on continuing to perform the main tasks and solutions to improve the business environment and improve National competitiveness 2019 and orientation to 2021.

The plan specifies 8 groups of key tasks, 112 specific tasks, including 40 tasks chaired by the Ministry of Finance, and 72 tasks chaired by coordination with ministries, central agencies and localities.

On the basis of the above Action Plan, the heads of the units under the Ministry of Finance should focus on directing implementation drastically from the beginning of the year, strive to achieve the highest objectives and the 2019 state budget - financial tasks that have been set out.

According to the latest statistics of the Ministry of Finance, the total state budget revenue in February 2019 is estimated at VND 84.8 trillion. Thus, after the first 2 months of the year, the revenue reached nearly VND 246.5 trillion, equaling 17.5% of the estimate, up 18.2% over the same period in 2018.

In which: Due to the influence of Tet Lunar New Year, domestic revenue in February was estimated at 69.5 trillion, only half of the previous month's revenue. Accumulation of 2-month revenue is still approximately VND 204.8 trillion, equal to 17.4% of the estimate, up 19% compared to the same period in 2018.

Revenues from oil in 2 months were approximately VND 8.7 trillion, equaling 19.5% of the estimate, down 1.7% compared to the same period of 2018. The world crude oil price from the end of December 2018 until now has recovered, but future price trend is not yet clear. Vietnam's average oil price in the period reached 62 USD/barrel, lower than 3 USD/barrel compared to the estimated price; production is estimated at 2.1 million tons, equal to 20.8% of the plan.

Balanced revenue from import and export activities in 2 months reached 51.5 trillion VND, equaling 17.1% of the estimate, up 16.8% compared to the same period in 2018. The import and export activities in 2/2019 continued maintaining the growth speed, in which import turnover increased by 6.7% over the same period.

Finding 108 outlay procedures have not been completed

For the state budget expenditure, the total state budget balancing expenditure in February 2019 was estimated at 103.2 trillion dong, the accumulated expenditure in the first 2 months was about 195.4 trillion dong, equaling 12% of the estimate, an increase of 9.6% over the same period in 2018.

In general, the budget spending tasks in February and in the first 2 months of the year are ensured according to the estimates and the implementation schedule of the budget using units, meeting the tasks of ensuring social security.

As of February 28, 2019, the Ministry of Finance issued 62,194 billion dong of Government bonds. In particular, implementing the Resolution of the National Assembly, the Ministry of Finance issued 7 trillion dong of Government bonds to receive debt in 2019 with Vietnam Social Insurance for social insurance contributions for employees working in the state sector since January 1, 1995, and returning paid interest for the debt has not been received in accordance with regulations.

For the accumulation of settlement capital from the beginning of the year to February 15, 2019, the control implemented by the State Treasury system is estimated at 115,160 billion dong, reaching 11.04% of the state budget's regular expenditure estimates through the State Treasury (not including debt payment, aid, expenditures of additional financial and reserve fund, allocation). Through the control of the state budget expenditure, the units have discovered 108 expenditures that have not yet completed the prescribed procedures, have requested additional necessary procedures and the real amount of payment refusal is VND 1.5 billion.

Implementing the Prime Minister's decision, in the first 2 months of the year, the Ministry of Finance provided over 41.2 thousand tons of national reserve rice to support people during the Lunar New Year.

As for the implementation of capital construction investment, as of February 26, 2019, there were 49/50 ministries, central agencies and 63/63 localities sending the allocation plan for capital in 2019 to the Ministry of Finance. In particular, the total capital allocated by ministries, central agencies and localities to project owners reached VND 332,201 billion, equaling 93.3% of the assigned plan.

Due to being in the process of allocating, announcing the investment capital plan for investors, and at the same time the influence of the Lunar New Year, the progress in the first 2 months of the year is low (reaching VND 16,210 billion, reaching 3.89% of the National Assembly's plan and 4.52% of the plan assigned by the Prime Minister.

By Hong Van/Quynh Lan