Business

Budget collection reaches 66.7% of yearly estimates

Revenues of the State budget in the first six months of this year stood at about 941.3 trillion VND (40.3 billion USD), equivalent to 66.7% of the yearly estimates, it was reported at the Finance Ministry’s review conference on July 7.
Budget collection reaches 66.7% of yearly estimates ảnh 1Illustrative photo (Source: VNA)
Hanoi (VNA) – Revenues of the State budget in the first six months of thisyear stood at about 941.3 trillion VND (40.3 billion USD), equivalent to 66.7%of the yearly estimates, it was reported at the Finance Ministry’s reviewconference on July 7.

State budget spendingin the reviewed period was estimated at 713 trillion VND, or 40 percent of theyearly estimates.

The Finance Ministry hastimely proposed the promulgation of policies on exempting, reducing andrescheduling tax, land rents and fees to ease difficulties for and support businessesand the people, with a total value of around 39.8 trillion VND.

State management ofthe financial, securities and corporate bond markets has been strengthened,while price and market control has been aligned with realities to removedifficulties for production-business activities and people’s life.

However, the ministrynoted the complicated situation related to tax evasion and frauds in digitalplatform-based business, e-commerce and cross-border business.

Besides, the allocationof state budget and disbursement of public investment capital remain slow,failing to stimulate economic growth.  

The divestment ofState capital in State-owned enterprises failed to meet schedule, affectingbudget collection.

In particular, thesecurities and derivative markets have witnessed increasingly complicated pricemanipulation, while the corporate bond market saw “hot” growth with potentialrisks.

The causes of thoseproblems lie in the difficulties facing production and business activitiesbrought about by the impacts of COVID-19 and rising fuel and materials costs, the ministry said.

Slow action by someministries, sectors and local administrations in implementing budget spendingplans plus a lack of severe sanctions are the reason for the delay inallocating State budget and disbursing public investment capital, according to the ministry./.
VNA
#Budget collection #Revenues of the State budget #first half #Finance Ministry #review conference #vietnam #vietnam news agency #vietnamplus
Follow VietnamPlus

Related News

Finance Ministry announces State budget estimates for 2022

Finance Ministry announces State budget estimates for 2022

State budget collection in 2022 is expected to reach over 1.41 quadrillion VND (61.7 billion USD), while expenditure is estimated at about 1.78 quadrillion VND (78.05 billion USD), up 4.5 percent compared to that in 2021, according to a report on State budget estimates for 2022 that has been made public by the Ministry of Finance.

See more

The yarn factory of Unitex Textile and Dyeing Company Limited applies new technology to optimise operations using an automated model. (Photo: VNA)

Resolution 68: International lessons for private sector development

A common feature in many successful economies is a fundamental shift in the perception of private enterprises. In countries such as Singapore, Germany, Republic of Korea (RoK) and China, private firms are viewed not mainly as entities requiring strict control but as development partners and key forces generating growth, jobs and innovation.

The production line of Regza Electronics Vietnam Co., Ltd. located in Dong Nai province. (Photo: VNA)

Vietnam’s overseas investment rises 2.3-fold in first two months

During the period, 36 new overseas projects were granted investment certificates with total registered capital from Vietnamese investors reaching 532.4 million USD, up 2.3 times compared to the same period last year. In addition, three projects adjusted their capital with an additional 7.8 million USD, 1.5 times higher than a year earlier.

Workers of PTSC Thanh Hoa check the system for crude oil imports. Vietnam saw strong increase in fuel imports in the first two months of this year. (Photo" VNA)

Vietnam records strong increase in fuel imports in two months

Statistics of Vietnam Customs showed that Vietnam spent more than 1.44 billion USD importing 2.18 million tonnes of petroleum products in the first two months of this year, representing a sharp increase of 31.4% and 43%, respectively, over the same period last year.

Prime Minister Pham Minh Chinh visits a macadamia cultivation model in Huoi Tao B village, Pu Nhi commune, Dien Bien province on March 8. (Photo: VNA)

PM requests boosting agricultural development in Northwestern region

PM Chinh encouraged local residents to explore additional crops and livestock suitable for intercropping in order to maximise land use efficiency. Farmers were also urged to strengthen cooperation with one another and with businesses by joining cooperatives, consolidating land resources and working together to expand production and improve incomes.

Farmers in the Mekong Delta province of An Giang harvest rice grown under the project 'Sustainable Development of One Million Hectares of High-Quality, Low-Emission Rice Associated with Green Growth in the Mekong Delta by 2030.' (Photo: VNA)

Promoting high-quality rice exports amid mounting challenges

According to the Ministry of Agriculture and Environment (MAE), an estimated 600,000 tonnes of rice worth 370 million USD was exported in January, up 12.4% in volume and 16.9% in value year-on-year. The average export price reached 616.6 USD per tonne, up 4%.

Fuel supply in Hanoi remains stable. (Photo: VNA)

Fuel prices rise sharply from 3 pm on March 7

Since the beginning of this year, domestic fuel prices have undergone 11 adjustments. During this period, both RON95 and E5 RON92 experienced four decreases and seven increases, while diesel oil two falls and nine hikes.

Customers buy and sell fuel at a Petrolimex petrol station. (Photo: VNA)

Capital’s fuel market remains stable after March 5 price adjustment

Operations at several petrol stations across Hanoi have run normally. Along major routes, petrol stations remained open and continued to serve customers as usual. The number of vehicles refueling showed no major changes compared to the days before the price adjustment. Sales activities continued without interruption, and there were no long queues or supply disruptions.

Thang Long II Industrial Park in Hung Yen province. (Photo: VNA)

Green industrial parks draw FDI to northern Vietnam

From 2026, the industrial real estate market in the northern region is forecast to enter a new growth phase as strategic infrastructure projects near completion, supply expands, and green industrial parks become a decisive factor for foreign direct investment (FDI).

Border guards from Thanh Hai Border Guard Station patrol fishing vessels entering Phu Hai port in Phu Thuy ward, Lam Dong province. (Photo: VNA)

Lam Dong orders swift action to address IUU fishing gaps

Vice Chairman of the provincial People’s Committee Le Trong Yen has directed heads of relevant departments, sectors and localities to strictly implement directives and newly issued regulations on IUU prevention, while strengthening public awareness efforts so fishermen and businesses better understand and comply with the rules.