State budget collection up 5.3 percent in Q1
Updated : Wednesday, April 11, 2018 10:22 AM (GMT+0700)

Totalrevenue of the State budget reached 308.4 trillion VND (13.6 billion USD) inthe first quarter of 2018, equivalent to 23.4 percent of the yearly estimateand up 5.3 percent year-on-year, said the Ministry of Finance.

Illustrative image - Source: VNA

Domestic revenue, estimatedat 253.1 trillion VND (11.16 billion USD), rose by 7.2 percent from the sameperiod last year. The figure was equal to 23 percent of the estimate.

Meanwhile, revenue fromcrude oil surged 13.9 percent year on year to 13.2 trillion VND (582.1 millionUSD), accounting for 36.9 percent of the estimate. Import-export activitiescontributed nearly 67.58 trillion VND (2.98 billion 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 (12.78 billion USD), equal to19 percent of the yearly estimate and up 1.7 percent annually.

Of the sum, developmentinvestment spending, regular spending and debt payment were 35.3 trillion VND(1.55 billion USD), 222.5 trillion VND (9.81 billion USD), and 31.4 trillionVND (1.38 billion USD), respectively.

Government bonds worth 40.4trillion VND (1.78 billion USD) were issued as of March 28, ensuring supply forspending and debt payment.

The Finance Ministry said itwould continue coordinating with relevant agencies to enhance budget collectionmanagement and combat smuggling, trade fraud and transfer pricing, along withhandling tax arrears.


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