State budget collection tumbles in 10 months

Hanoi (VNA) - Total State budget collection in the first ten months of this year was estimated at 1.13 quadrillion VND (48.7 billion USD), or 75.2 percent of the annual estimate and down 10.3 percent year-on-year, according to the Ministry of Finance.

Of the total, 959.2 trillion VND was domestic collection, accounting for 75.9 percent of the estimate and falling 6.8 percent against the same period last year. Meanwhile, 29.65 trillion VND came from crude oil, or 84.2 percent of the estimate and down 37.2 percent year-on-year.

Expenditure in the first ten months stood at more than 1.26 quadrillion VND, equivalent to 72.1 percent of the estimate and up 9.7 percent from the same period last year.

As of October 26, some 17.77 trillion VND had been set aside for the prevention of COVID-19 and support for people hit hard by the outbreak.

Some 3.17 trillion VND was spent on recovering from the consequences of natural disasters and the African swine fever outbreak, while 500 billion VND was used to support five flood-hit provinces in the central region.

The ministry said State budget collection faced difficulties this year due to the pandemic and climate change./.