Business

State budget collection down over 9% in 10 months

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.
State budget collection down over 9% in 10 months ảnh 1Illustrative photo (Photo: VNA)

Hanoi (VNA) – Vietnam’s State budget collection in the first ten months of this year stoodat 1.4 quadrillion VND ( 57 billion USD), accounting for 86.3% of theestimate, 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 theestimate by 22.4% and down 19.8% year-on-year.

According to theministry, 24 localities across the country posted domestic revenue over 86% oftheir estimate, seven localities had higher revenue compared to the same periodlast year, and up to 56 localities saw a reduction in budget collection.

Minister of Finance HoDuc Phoc said that the financial sector will strive to complete the financialand budget tasks in the two remaining months of this year.

Besides solutions toincrease budget revenue, the ministry will continue to support businesses toboost production and business, which will contribute to promoting economicgrowth, thereby generating sustainable revenues for the State coffer./.

VNA
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