State budget collection reaches nearly 70 percent of yearly estimate hinh anh 1illustrative image (Source: VNA)

Hanoi (VNA)State budget collection in January-September increased 13.9 percent year on year to reach 843 trillion VND (37.1 billion USD), equal to 69.5 percent of the estimate, according to the Ministry of Finance (MoF).

Domestic revenue was estimated at 663.7 trillion VND (29.2 billion USD), making up 67 percent of the estimate and representing a year-on-year rise of 11.4 percent.

The finance ministry said direct revenues from production and business activities were low due to reductions in contributions from some major manufacturing sectors such as crude oil and gas, automobile, mobile phone, and cigarette.

However, total domestic revenue still posted an increase thanks to higher indirect revenues, such as tax payments from housing and land (up 24.2 percent), personal income tax (up 21.1 percent), charges and fees (up 51.3 percent), and income from lottery activities (up 12.4 percent).

Forty-three out of the 63 localities nationwide collected over 72 percent of the estimates and 58 reported higher budget collection than the same period last year.

Revenue from crude oil reached 34 trillion VND (1.49 billion USD) while that from import-export activities was 214 trillion VND (9.41 billion USD), indicating respective year-on-year rises of 15 percent and 10.5 percent.

The total State budget spending in nine months stood at 904.6 trillion VND (39.8 billion USD), a yearly increase of 6.6 percent and equivalent to 65.1 percent of estimate.

Spending on development investment hit 166.6 trillion VND (7.3 billion USD), equal to 46.6 percent of the estimate. The disbursement of State investment for capital construction made up 53.1 percent of the estimate (compared to 56 percent in the same period of 2016).

Payments for debts and aid totalled 75.35 trillion VND (3.31 billion USD) in the period, meeting 76.2 percent of estimate.

As of the end of September, the central budget deficit was about 69 percent of the estimate.-VNA