Two-month state budget revenue grows 10.6% year on year
An estimated 362.3 trillion VND (nearly 15.3 billion USD) was collected for the state budget in the first two months of 2023. The total is equivalent to 22.4% of the year’s target and up 10.6% from a year earlier, the Ministry of Finance reported on March 3.
State budget revenue stood at about 362.3 trillion VND in the first two months of 2023. (Photo: VNA)
Hanoi (VNA) – An estimated362.3 trillion VND (nearly 15.3 billion USD) was collected for the state budgetin the first two months of 2023. The total is equivalent to 22.4% of the year’s target and up10.6% from a year earlier, the Ministry of Finance reported on March 3.
Revenue from domestic sources reached23.6% of its target and increased 17%. Crude oil grew to 25.7% of the target, up 13.2%, and from foreign trade 15% of the target and equivalent to 74.5% ofthat in the same period last year.
Thirty-six of the 63 provinces andcentrally-run cities nationwide recorded state budget revenue topping 18% ofthis year’s targets for them. This includes Hanoi at 31.8%, Bac Giang at 26.4%, Lang Son at 25%, Kien Giang at 24.8%, Bac Ninh saw 24.7%, and Hai Duong reached 24.2%.
Twenty-four localities saw the collectionhigher than in the same period of 2022, and 39 others were lower.
Meanwhile, nearly 242 trillion VNDfrom the state budget was spent in January and February, representing 11.7% ofthis year’s plan and rising 6% year on year, statistics show.
The Finance Ministry saidexpenditures in the two months were carried out as planned, meeting demand for socio-economicdevelopment, defence, security safeguarding, state management, debt repayment,and implementation of social security tasks./.
Hanoi and Ho Chi Minh City - the country's economic locomotives - recorded the highest disbursement of public investment capital in January, with nearly 2.7 trillion VND (117 million USD) and more than 1.63 trillion VND, respectively, reported the General Statistics Office.
Vietnam’s total State budget collection in January is estimated at 183.7 trillion VND (7.78 billion USD), equal to 11.3% of the yearly estimate and down 0.5% year-on-year, announced the Ministry of Finance on February 7.
With a view to making a financial disclosure of the state budget, the Ministry of Finance (MoF) has publicised its report on Vietnam’s budget situation estimates for 2023. This shows some caution in formulating budget estimations amid lingering difficulties at home and abroad.
Prime Minister Pham Minh Chinh has requested ministries, sectors and localities to review legal procedures regarding the disbursement of public investment capital and propose solutions to deal with existing problems, while promptly allocating all the planned public investment capital sourced from the State budget for 2023.
The tax sector collected an estimated 325.78 trillion VND (13.73 billion USD) for the State budget in the first two months of 2023, a year-on-year rise of 16.7%, and equivalent to 23.7% of the yearly estimate, the General Department of Taxation has reported.
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