State budget collection for 2014 is likely to exceed estimates by 9 percent, Deputy Minister of Finance Vu Thi Mai said at a regular meeting in Hanoi on October 9.

In the January-September period, 636 trillion VND (30.2 million USD) was collected for the State budget, equal to 81.3 percent of the estimates and representing a year-on-year rise of 17.2 percent.

Meanwhile, the budget spending edged up 11.9 percent to 768 trillion VND (36.5 million USD), she reported.

The Government bonds have also received more attention from investors, especially five-and 10-year-term bonds which made up 25.9 percent and 12.1 percent of the total money mobilised by the State Treasury, in the reviewed period.

To ensure the balance, the ministry is stepping up measures to reform administrative formalities in taxation and customs sectors such as enabling enterprises to use e-tax declarations and facilitating business operation.

Finance officials will also tighten management in the field so that the State budget collection can meet or exceed the estimates.

At the same time, the ministry continues directing taxation and customs agencies and insurance business associations to come up with solutions to back firms overcome difficulties and develop operation.

In addition to thrift practices, the ministry strives to manage and utilise effectively the standby State budget with priorities to preventing natural disasters and diseases.-VNA