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State budget collection almost reaches yearly target

State budget collection in the January-September period was estimated at over 1.32 quadrillion VND (55.9 billion USD ), reaching 94% of the yearly target, and up 22% from the same period last year, according to Deputy Finance Minister Nguyen Duc Chi.
State budget collection almost reaches yearly target ảnh 1Illustrative image. (Photo: VNA)
Hanoi (VNA) – State budget collection in the January-Septemberperiod was estimated at over 1.32 quadrillionVND (55.9 billion USD ), reaching 94% of the yearly target, and up 22% from the sameperiod last year, according to Deputy Finance Minister Nguyen Duc Chi.

At a press conference on September 29, the deputy minister said domesticcollection accounted for 88.9% of the yearly estimates, up 18.8% year-on-year.

The ministry said 61 out of 63 provinces and citieshave met over 75% of their targets in domestic collection, and 52 localitieshave collected higher tax revenues than the same period last year. 

The country’s state budget expenditure in the January – August period reached 1,086.3 trillionVND, equivalent to 60.8% of the year's estimate and up 5.4% year-on-year. 

However, the disbursement of investment in development in the 9-month period isstill behind schedule at 46.7% of the plan. Only 7 ministries and 20 localitiesdisbursed over half of the assigned investment capital, while 14 ministries andcentral agencies and 2 localities disbursed under 20%.

Based on the budget revenues in the first nine months of the year, the ministryforecast that the economy would expand 7 – 7.5% this year while export valuewould increase by 9.46% and import value by 10.5% year on year./.
VNA
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