State budget collection hits 1.16 quadrillion VND by November 15
Total State budget collection from the beginning of the year until November 15 was estimated at 1.16 quadrillion VND (49.78 billion USD), up 16.1 percent as compared to the same period last year.
Total State budget collection from the beginning of the year until November 15 is equivalent to 87.9 percent of the whole year’s estimate, according to the General Statistics Office (Photo: VNA)
Hanoi (VNA) - Total State budgetcollection from the beginning of the year until November 15 was estimated at 1.16quadrillion VND (49.78 billion USD), up 16.1 percent as compared to the same period last year.
The amount is equivalent to 87.9 percent of thewhole year’s estimate, according to the General StatisticsOffice (GSO).
In the period, domestic collection reached 926.9trillion VND (39.77 billion USD), accounting for 84.3 percent of the estimate.
Budget revenue from crude oil achieved 150 percentof its estimated value at 54.3 trillion VND (2.33 billion USD).
Import-export activities contributed 174.9trillion (7.5 billion USD) to the State budget, 97.7 percent of projectedrevenue.
Revenue from State-owned enterprises reached 128.6trillion VND (5.51 billion USD), while foreign invested enterprises (excludingcrude oil) was 156.6 trillion VND (6.72 billion USD), equivalent to 77.2 percentand 70.3 percent of the estimates, respectively.
Tax collection from industrial, trade andnon-State services reached 178.7 trillion VND (7.67 billion USD), from personalincome tax 82.5 trillion VND (3.54 billion USD) and from environmentalprotection tax 38.3 trillion VND (1.64 billion USD). Compared to the yearlyestimate, these budget revenues are estimated to fulfil about 80 percent. Landuse fee collection was 102.1 trillion VND (4.38 billion USD), exceeding theyearly estimate by 18.8 percent.
According to the GSO, total budget spending wasestimated at more than 1.16 quadrillion VND (49.78 billion USD), up 9.4 percentfrom the same period last year, 76.6 percent of the yearly target.
Regular expenditure from January to mid-Novemberwas estimated at 806.8 trillion VND (34.62 billion USD), 85.8 percent of theyear’s estimate.
Debt payment and interest expenses during theperiod hit 93.5 trillion VND (4.01 billion USD), some 83.1 percent of theyear’s estimate.
The budget spent on development investment was 239.8trillion VND (10.29 billion USD), only 60 percent of the estimate.-VNA
Economic restructuring should be channelled more specifically to realise the socio-economic targets set by the National Assembly, not only for 2018 but also for the following years, said Minister of Planning and Investment Nguyen Chi Dung.
Ho Chi Minh City is confident of fulfilling its 2018 budget collection goals, as its economy saw stable and positive development in the first three quarters of this year, according to Chairman of the municipal People’s Committee Nguyen Thanh Phong.
Although completing the majority of its economic targets for 2018, Ho Chi Minh City is still burdened with heavy pressure from its budget collection, said Nguyen Thanh Phong, Chairman of the municipal People’s Committee at a meeting on November 1.
The 12th National Assembly approved the State budget projection for 2019, with an approval rate of 86.19, during its ongoing sixth session in Hanoi on November 9.
The Finance Ministry reported on November 12 that total State budget collection was estimated at 1.12 quadrillion VND in the January-October period, equivalent to 84.9 percent of the yearly estimates, and up 15.1 percent from the same time of 2017.
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Total State budget collection from the beginning of the year until November 15 is equivalent to 87.9 percent of the whole year’s estimate, according to the General Statistics Office (Photo: VNA) 
