State budget collection tops 1 quadrillion VND in 7 months
The total revenue to the State budget between January and July exceeded 1.01 quadrillion VND (42.53 billion USD), equaling 62.7% of the yearly estimate and dropping by 7.8% from the same period last year.
Hanoi (VNA) – The total revenue to the State budget between January and July exceeded 1.01 quadrillion VND (42.53 billion USD),equaling 62.7% of the yearly estimate and dropping by 7.8% from the same periodlast year.
According to the Ministry of Finance, of the 63 localitiesnationwide, eight saw annual increases in their collection revenue, while the 55others recorded decreases.
Minister Ho Duc Phoc said due to objective reasons, somesources of revenue declined significantly, such as the environmental protectiontax on gasoline and oil and revenue from houses and land, which went down byover 38% and 53% year-on-year, respectively.
The official noted the collection work has so far ensuredprogress to meet the 2023 estimate of more than 1.62 quadrillion VND. However,difficulties are abundant for the remaining part of the year.
The ministry said the total State budget expenditure for thefirst seven months reached 957 trillion VND, or 46.1% of the estimate, marking a13.7% increase from the same period in 2022./.
The total State budget revenue in the first five months of this year reached over 663.84 trillion VND (28.27 billion USD), equivalent to 48.3% of the ordinance estimate and 96.9% compared to the figure in the same period last year, reported the General Department of Taxation on June 2.
State budget collection in the January-May period was estimated at over 769.6 trillion VND (32.75 billion USD), equivalent to 47.5% of the estimates for the whole year, the Ministry of Finance reported on June 8.
State budget collection of the northern province of Quang Ninh in the first half of 2023 reached 28 trillion VND (over 1.18 billion USD), equivalent to 53% of the estimate, and up 6% compared to the scenario.
At the Government's teleconference with localities and the regular Cabinet meeting in Hanoi on July 4, the Ministry of Planning and Investment (MoPI) presented two growth scenarios for the third quarter and the whole year 2023, indicating that the tasks for the remaining months of this year are heavy, with a growth rate of 8.0% or higher.
State budget collection in the first seven months of this year stood at 211.23 trillion VND (8.89 billon USD), equivalent to 49.7% of the estimate, down 19.6% year-on-year, the General Department of Vietnam Customs reported on August 3.
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Illustrative image (Photo: VNA) 
