H1 state budget revenue reaches 54% of yearly target: MoF
The state budget revenue stood at 875.8 trillion VND (37 billion USD) in the first half of 2023, equivalent to 54% of this year’s target, reported the Ministry of Finance (MoF).
A transaction office of the Vietnam Prosperity Joint Stock Commercial Bank, one of the units assigned with collecting revenue for the state budget. (Photo: VNA)
Hanoi (VNA) – The statebudget revenue stood at 875.8 trillion VND (37 billion USD) in the first halfof 2023, equivalent to 54% of this year’s target, reported the Ministry ofFinance (MoF).
The taxes, fees, charges, and landrent entitled to exemption, reduction and payment deadline extension was valuedat about 70.3 trillion VND.
Meanwhile, about 804.6 trillion VNDfrom the state budget was spent during the period, equivalent to 38.8% of the year’starget. In particular, spending on development investment increased from a yearearlier, reaching 30.49% of the disbursement target set by the Prime Minister,compared to the 27.75% in the same period last year, statistics show.
During H1, financial and statebudgetary tasks were carried out amid the context that the economy had toconcurrently address post-pandemic issues and deal with numerous newdifficulties and challenges posed by the international and domestic situations,the MoF told an online conference on July 13.
Adverse factors impacted theperformance of socio-economic development and budgetary tasks, it said, notingthat businesses had to struggle with difficulties, including shrunken markets,a shortage of orders, limited credit access, soaring capital costs, andlower-than-expected economic growth.
However, thanks to the entirepolitical system’s engagement, the financial sector has fully carried out financialand budgetary solutions since the start of 2023. It proactively governed thefiscal policy to support socio-economic recovery and development, made strongmoves to ensure budget collection, kept the overspending and public debtswithin the permissible levels, controlled prices and the market, and enhancedfinancial discipline, the MoF went on.
It also proposed the NationalAssembly, the Government, and the Prime Minister issue policies on the exemption,reduction, and extension of payment deadlines of taxes, fees, charges, and landrent worth about 200 trillion VND for 2023.
The ministry also suggestedsolutions to bottlenecks facing public investment disbursement and nationaltarget programmes./.
More than 162.8 trillion VND (6.9 billion USD) in export and import taxes was collected for the state budget as of June 11, equivalent to 38.3% of this year’s target and down 18.1% from the same period of 2022.
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.
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A transaction office of the Vietnam Prosperity Joint Stock Commercial Bank, one of the units assigned with collecting revenue for the state budget. (Photo: VNA) 
