Illustrative photo (Photo: VNA) Hanoi (VNA) – Vietnam’s State budget collection in the first ten months of this year stood at 1.4 quadrillion VND ( 57 billion USD), accounting for 86.3% of the estimate, and down 9.2% year-on-year, the Ministry of Finance reported.
Domestic revenue dropped 5.9% from the same period last year to 1.16 quadrillion VND. Notably, the collection from crude oil reached some 51.4 trillion VND, exceeding the estimate by 22.4% and down 19.8% year-on-year.
According to the ministry, 24 localities across the country posted domestic revenue over 86% of their estimate, seven localities had higher revenue compared to the same period last year, and up to 56 localities saw a reduction in budget collection.
Minister of Finance Ho Duc Phoc said that the financial sector will strive to complete the financial and budget tasks in the two remaining months of this year.
Besides solutions to increase budget revenue, the ministry will continue to support businesses to boost production and business, which will contribute to promoting economic growth, thereby generating sustainable revenues for the State coffer./.
