State budget revenue surpasses nearly 20% of estimate
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.
Prime Minister Pham Minh Chinh speaks at Ministry of Finance's conference (Photo: VNA)
Hanoi (VNA) – State budget revenue reached over 1.69 quadrillionVND (71.4 billion USD) as of December 15, exceeding the estimate by 19.8%, theMinistry of Finance announced at a conference in Hanoi on December 19.
Of the total revenue, central budget collection surpassed the estimate by 19.3%, and that of local budget by 20.4%.
The ministry attributed the high budget revenue to theeconomic 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 manypolicies on exempting, reducing and postponing taxes, fees and charges to helpbusinesses restore production and business, thereby making their contributionsto the budget.
Since the beginning of the year to December 15, 193.4trillion VND worth of taxes, land rent, fees and charges had been exempted,decreased or extended.
In the period, state budget spending is estimated at1.45 quadrillion VND, equal to 81.2% of the estimate, in whichspending on development investment reached 72.4% of the estimate, and recurrentexpenditure 88.1%.
The ministry actively made recommendations to an economic recoverypackage worth 347 trillion VND, with focus on infrastructure investment, socialwelfare and digital transformation; and requested ministries, sectors andlocalities to cut recurrent expenditure by 10% compared to budget allocationnorms./.
Despite many difficulties, Vietnam has managed to keep the overall situation under good control with stable macro-economy and ensured major balances, including a trade surplus of over 10 billion USD, stated Prime Minister Pham Minh Chinh while chairing a regular government meeting on December 1.
An estimated 445.9 trillion VND (over 18.18 billion USD) of investment capital sourced from the State budget was disbursed in the first 11 months of 2022, equivalent to 74.9% of this year’s target and rising19.9% year-on-year, according to the General Statistics Office (GSO).
The 11-month state budget revenue is estimated at nearly 1.64 quadrillion VND (67 billion USD), equivalent to 116.1% of the target and up 17.4% from a year earlier, the Ministry of Finance (MoF) announced on December 1.
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Prime Minister Pham Minh Chinh speaks at Ministry of Finance's conference (Photo: VNA) 
