Budget revenues were estimated at 226 trillion VND (10.5 billion USD) inthe first quarter, up 10.3 percent year on year and meeting 24.8percent of collection plans, according to Deputy Finance Minister Vu ThiMai.
At a regular press briefing on April 7, thedeputy minister said domestic revenue comprised over 173 trillion VND, ayearly increase of 19.6 percent, thanks to stable macroeconomy and therecovery trend in business and production activities boosted by improvedsupply and demand.
Mai cited a surge in realestate transactions as an example, adding that streamlined taxprocedures also played a role in tax collection.
At the same time, budget revenues from crude oil export dropped by 35.9percent year on year to 16.6 trillion VND (772 million USD), meetingonly 17.9 percent of estimates. Overall, import-export activitiescontributed 35.4 trillion VND to the State budget, up 5.8 percent andmeeting 20.2 percent of plans.
Meanwhile, Q1budget spending was 263 trillion VND (12.2 billion USD), up 12.3 percentfrom the same period last year. Overspending stood at around 37.3trillion VND, equivalent to 16.5 percent of the yearly estimates.
Also in the period, capital mobilization for the State budget in thefirst quarter was lower than expectation, meeting only 22.4 percent ofthe yearly plan and equivalent to just 62.7 percent of the amount forthe same period last year.
The Finance Ministrysaid over 55.9 trillion VND (around 2.6 billion USD) was mobilized inthe reviewed period, including 36.9 trillion VND of five-year capital, 6trillion VND of ten-year capital and 13 trillion VND of 15-yearcapital.
The ministry also signed 13 agreements for 1.72 billion USD worth of credit in the three-month period.
Deputy Minister Mai attributed the drop in capital mobilization to achange in policy which shifts to medium- and long-term capital insteadof relying on short-term capital as in the previous years.-VNA
At a regular press briefing on April 7, thedeputy minister said domestic revenue comprised over 173 trillion VND, ayearly increase of 19.6 percent, thanks to stable macroeconomy and therecovery trend in business and production activities boosted by improvedsupply and demand.
Mai cited a surge in realestate transactions as an example, adding that streamlined taxprocedures also played a role in tax collection.
At the same time, budget revenues from crude oil export dropped by 35.9percent year on year to 16.6 trillion VND (772 million USD), meetingonly 17.9 percent of estimates. Overall, import-export activitiescontributed 35.4 trillion VND to the State budget, up 5.8 percent andmeeting 20.2 percent of plans.
Meanwhile, Q1budget spending was 263 trillion VND (12.2 billion USD), up 12.3 percentfrom the same period last year. Overspending stood at around 37.3trillion VND, equivalent to 16.5 percent of the yearly estimates.
Also in the period, capital mobilization for the State budget in thefirst quarter was lower than expectation, meeting only 22.4 percent ofthe yearly plan and equivalent to just 62.7 percent of the amount forthe same period last year.
The Finance Ministrysaid over 55.9 trillion VND (around 2.6 billion USD) was mobilized inthe reviewed period, including 36.9 trillion VND of five-year capital, 6trillion VND of ten-year capital and 13 trillion VND of 15-yearcapital.
The ministry also signed 13 agreements for 1.72 billion USD worth of credit in the three-month period.
Deputy Minister Mai attributed the drop in capital mobilization to achange in policy which shifts to medium- and long-term capital insteadof relying on short-term capital as in the previous years.-VNA
