Vietnam’s budget collection in the first 10 months of this year stood at 1.46 quadrillion VND (58.7 billion USD), surpassing the estimate by 3.7%, and up 16.2% year-on-year, the Ministry of Finance reported.
Vietnam’s budget collection in the first 10 months of this year stood at 1.46 quadrillion VND (58.7 billion USD). (Photo: Ha Noi Moi)
Hanoi (VNA) – Vietnam’s budget collection in the first 10 months of this year stood at 1.46 quadrillion VND (58.7 billion USD), surpassing the estimate by 3.7%, and up 16.2% year-on-year, the Ministry of Finance reported.
Domestic revenue rose 12.1% from the same period last year to 1.15 quadrillion VND. Notably, the collection from crude oil reached some 65.5 trillion VND, exceeding the estimate by 32.4% and up 95% year-on-year.
The ministry said the budget collection surpassed the estimate in the period as the country maintained its positive recovery and growth pace, with GDP in the first nine months expanding 8.89%, the highest since 2011.
Moreover, surging oil and gas prices have helped the country earn more from crude oil.
However, the ministry noted that domestic revenue is on a declining trend as the average in the first five months of this year was 130.8 trillion VND, which dropped to nearly 100 trillion VND from June, even only 71.2 trillion VND in September and some 70 trillion VND last month.
Meanwhile, the country’s total budget spending was about 1.2 quadrillion VND, equivalent to 68.3% of the estimate, and up 6% against the corresponding time last year.
⛄ For development spending, disbursement remained sluggish, fulfilling only 51.34% of the plan assigned by the Prime Minister, as compared with 55.8% recorded in the same period last year. The disbursement rate of foreign capital fell to only 20.14%./.
State budget collection in the January-September period was estimated at over 1.32 quadrillion VND (55.9 billion USD ), reaching 94% of the yearly target, and up 22% from the same period last year, according to Deputy Finance Minister Nguyen Duc Chi.
Ho Chi Minh City’s State budget collection has reached its target ahead of schedule, surpassing 392.7 trillion VND (17 billion USD) in the first ten months of this year, up 1.6% from the estimate and 22.3% year-on-year, reported the municipal Statistics Office.
Budget collection from import-export activities topped 362.4 trillion VND (14.57 billion USD) in the first 10 months of this year, equivalent to 86.3% of the set target and up 14.6% year-on-year, according to the General Department of Customs.
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Vietnam’s budget collection in the first 10 months of this year stood at 1.46 quadrillion VND (58.7 billion USD). (Photo: Ha Noi Moi) 
