Illustrative photo (Source: VNA)

Hanoi (VNA) - Total State budget collection in the first eight months of this year was estimated at 762.8 trillion VND (33.4 billion USD), an increase of 12.8 percent over the same period last year.

The amount is equivalent to 63 percent of the whole year’s estimates, according to the Ministry of Finance. In the reviewed period, domestic collection reached 603.6 trillion VND (26.5 billion USD), up 10.7 percent year-on-year, accounting for 61 percent of the year’s estimates.

The ministry said budget revenues from crude oil exports, estimated at roughly 29.97 trillion VND (1.3 billion USD), met 78.3 percent of estimates, up 11.3 percent over the same period in 2016.

Import-export activities contributed 190.8 trillion VND (8.36 billion USD) to the State budget, an increase of 9.5 year-on-year and equaling 66.9 percent of projected revenues.

According to the ministry, total budget spending was 793.5 trillion VND (34.8 billion USD), up 7.8 percent year-on-year, completing 57.1 percent of the yearly target. Of the estimate, budget investment for development was 137 trillion VND (6 billion USD).

Regular expenditures in eight months were estimated at 585 trillion VND (25.77 billion USD), equaling 65 per cent of the year’s estimate, up 7.4 per cent over the same period last year.

Debt payment and interest expenses during the period totaled 68 trillion VND (2.98 billion USD), meeting 68.9 per cent of annual target and increasing by 14.6 percent year-on-year.-VNA