Total revenue of the State budget reached 308.4 trillion VND (13.6 billion USD) in the first quarter of 2018, equivalent to 23.4 percent of the yearly estimate and up 5.3 percent year-on-year, said the Ministry of Finance.
Hanoi (VNA) - Total revenue of the State budgetreached 308.4 trillion VND (13.6 billion USD) in the first quarter of 2018,equivalent to 23.4 percent of the yearly estimate and up 5.3 percent year-on-year,said the Ministry of Finance.
Domestic revenue, estimated at 253.1 trillion VND (11.16 billionUSD), rose by 7.2 percent from the same period last year. The figure was equalto 23 percent of the estimate.
Meanwhile, revenue from crude oil surged 13.9 percent year on yearto 13.2 trillion VND (582.1 million USD), accounting for 36.9 percent of theestimate. Import-export activities contributed nearly 67.58 trillion VND (2.98billion USD) to the State budget, equal to 23.9 percent of the estimate.
In the reviewed period, State budget spending stood at 290 trillion VND (12.78billion USD), equal to 19 percent of the yearly estimate and up 1.7 percentannually.
Of the sum, development investment spending, regular spending and debtpayment were 35.3 trillion VND (1.55 billion USD), 222.5 trillion VND (9.81billion USD), and 31.4 trillion VND (1.38 billion USD), respectively.
Government bonds worth 40.4 trillion VND (1.78 billion USD) were issued as ofMarch 28, ensuring supply for spending and debt payment.
The Finance Ministry said it would continue coordinating with relevantagencies to enhance budget collection management and combat smuggling, tradefraud and transfer pricing, along with handling tax arrears.-VNA
Total revenue of the State budget reached 215.76 trillion VND in the first two months of 2018, equivalent to 16.1 percent of the yearly estimate and up 12.7 percent year-on-year, said the Ministry of Finance.
Ho Chi Minh City continued enjoying growth in State budget collection in the first quarter of 2018, however, revenues from several sectors, especially import-export activities are forecast to fall, affecting the city’s budget collection this year.
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Illustrative image (Source: VNA) 
