Illustrative image (Source: VNA)

Hanoi (VNA) – State budget collection was estimated to hit 97.4 trillion VND (4.3 billion USD) in the first month of 2017, accounting for 8 percent of the estimates, according to the Ministry of Finance (MoF).

Of the sum, domestic tax collection was 87.9 trillion VND (3.8 billion USD) while budget revenues from crude oil and import-export activities were 2.3 trillion VND (101.5 million USD) and 19.2 trillion VND (847.4 million USD), respectively.

Meanwhile, budget spending was 87.25 trillion VND (3.8 billion USD) in the reviewed period, or 6.3 percent of the estimates for the year.

According to the ministry, the first month’s expenses were mainly to meet the needs of socio-economic development, defence, security, State management and overcoming the consequences of natural disasters.

The progress of investment development spending in general and construction investment spending in particular remained low, the ministry said, adding that spending in January was mainly used as investment capital for last year’s projects.-VNA