State budget revenue surpasses nearly 20% of estimate

Updated: 09:38, 20/12/2022

State budget revenue reached over 1.69 quadrillion VND (71.4 billion USD) as of December 15, exceeding the estimate by 19.8%, the Ministry of Finance announced at a conference in Hanoi on December 19.

•14 out of 16 budget collections surpass yearly target

•Budget collection from import-export up 14.6%

•Vietnam calls for budget guarantee for UN development system

Of the total revenue, central budget collection surpassed the estimate by 19.3%, and that of local budget by 20.4%.

Prime Minister Pham Minh Chinh speaks at Ministry of Finance's conference.

The ministry attributed the high budget revenue to the economic recovery, with gross domestic product (GDP) expected to expand by 7.5% in 2022, higher than the plan.

In 2022, the Ministry of Finance has also implemented many policies on exempting, reducing and postponing taxes, fees and charges to help businesses restore production and business, thereby making their contributions to the budget.

Since the beginning of the year to December 15, 193.4 trillion VND worth of taxes, land rent, fees and charges had been exempted, decreased or extended.

In the period, state budget spending is estimated at 1.45 quadrillion VND, equal to 81.2% of the estimate, in which spending on development investment reached 72.4% of the estimate, and recurrent expenditure 88.1%.

The ministry actively made recommendations to an economic recovery package worth 347 trillion VND, with focus on infrastructure investment, social welfare and digital transformation; and requested ministries, sectors and localities to cut recurrent expenditure by 10% compared to budget allocation norms.

Bac Giang: State budget collection exceeds 65 percent of yearly estimate

(BGO) – Amid the impact of Covid-19 pandemic, the state budget collection in Bac Giang province is expected to gain 15.7 trillion VND (682 million USD) this year, representing 27 percent year on year increase and exceeding over 65 percent of the yearly estimate, reported the provincial competent force.

Imports-exports contribute VND285.62 trillion to State budget

State budget collection from import-export activities reached VND85.62 trillion (US$12.53 billion) in the first nine months of this year, equivalent to 90.6% of the estimate and a year-on-year rise of 25.83%.

State budget collection up 15.6% in seven months

Total state budget revenue reached VND912.1 trillion (US$39.74 billion) in the first seven months of 2021, equalling 67.9% of the estimate and up 15.6% year-on-year, announced the Ministry of Finance.