Hanoi (VNA) ❀– The Vietnam Oil and Gas Group (Petrovietnam)’s contributions to the State budget has reached this year’s target five months ahead of scheduled.

Between January and July, the firm contributed 78.31 trillion VND (3.26 billion USD) to the State budget, 62% higher than the seven-month target and equivalent to 100.02% of the target for the whole of this year, statistics show. It noted that during the first seven months, the global growth was slow and consumer demand weak while protection barriers increased, financial markets witnessed strong changes, and monetary policies were tightened in many countries. Besides, many new challenges related to food security emerged, supply chain disruptions continued, the global energy market fluctuated strongly, prices surged, and purchasing power declined. As a highly open economy, Vietnam has been facing “dual impacts” from adverse internal and external factors. Facing that fact, the Government has been making concerted efforts to implement various measures for tackling difficulties and support the economy. The growth target for 2023 remains unchanged althought it is not easy to be achieved, the firm said. Determined to stand side by side with the Government, as the leading energy business in Vietnam, Petrovietnam has drastically carried out appropriate and timely governance measures matching the reality. As a result, it has managed to maintain safe, stable, and fruitful production and business activities, thus overfulfiling all targets and guaranteeing stable and maximum supply of strategic products, including gas, electricity, fertiliser, and fuel, for the economy. It has also exceeded financial targets for months and quarters, helping reach the State budget contribution target at an early date, the group added./.