State budget collection almost reaches yearly target
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.
Hanoi (VNA) – State budget collection in the January-Septemberperiod was estimated at over 1.32 quadrillionVND (55.9 billion USD ), reaching 94% of the yearly target, and up 22% from the sameperiod last year, according to Deputy Finance Minister Nguyen Duc Chi.
At a press conference on September 29, the deputy minister said domesticcollection accounted for 88.9% of the yearly estimates, up 18.8% year-on-year.
The ministry said 61 out of 63 provinces and citieshave met over 75% of their targets in domestic collection, and 52 localitieshave collected higher tax revenues than the same period last year.
The country’s state budget expenditure in the January – August period reached 1,086.3 trillionVND, equivalent to 60.8% of the year's estimate and up 5.4% year-on-year.
However, the disbursement of investment in development in the 9-month period isstill behind schedule at 46.7% of the plan. Only 7 ministries and 20 localitiesdisbursed over half of the assigned investment capital, while 14 ministries andcentral agencies and 2 localities disbursed under 20%.
Based on the budget revenues in the first nine months of the year, the ministryforecast that the economy would expand 7 – 7.5% this year while export valuewould increase by 9.46% and import value by 10.5% year on year./.
Revenues of the State budget in the first six months of this year stood at about 941.3 trillion VND (40.3 billion USD), equivalent to 66.7% of the yearly estimates, it was reported at the Finance Ministry’s review conference on July 7.
Measures taken to bring down petrol prices could reduce State budget collection by 32.5 trillion VND (1.4 billion USD) this year, according to Deputy Minister of Finance Nguyen Duc Chi.
The tax sector collected 911.02 trillion VND (38.9 billion USD) of State budget in the first seven months of this year, a year-on-year rise of 17.2%, and equivalent to 77.5% of its yearly estimate, according to the General Department of Taxation.
A supervisory delegation of the National Assembly (NA) held a meeting with the Ministry of Finance (MoF) on August 23 to look into the implementation of policies and laws on thrift practice and wastefulness prevention during 2016 - 2021.
The total State budget collection in the first eight months of this year has been estimated at 1.2 quadrillion VND (51.3 billion USD), equivalent to 85.6% of the annual target, according to the Ministry of Finance.
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Illustrative image. (Photo: VNA) 
