State budget revenue nears 770 trillion VND in five months

Illustrative image (Photo: VNA)

Hanoi (VNA) - State budget collection in the January-May period was estimated at over 769.6 trillion VND (32.75 billion USD), equivalent to 47.5% of the estimates for the whole year, the Ministry of Finance reported on June 8.

According to the ministry, although the domestic revenue in the reviewed period was quite good compared to the estimates, the monthly tended to decrease as the January collection reached 14.7% of the estimate, February 7.7%, March 8.9%, April 9.9%, and May 6.4%. The domestic collection in the first five months was equal to 97.1% of that recorded in the same period last year.

The ministry said 17 out of the 63 provinces and centrally-run cities recorded state budget revenue topping 48% of this year’s targets.

Thirteen localities saw the collection higher than that in the same period of 2022, and 50 others were lower.

Meanwhile, 653.1 trillion VND from the state budget was spent in the period, representing 31.5% of this year’s plan, and rising by 10.9% year-on-year, statistics show.

The Finance Ministry said expenditures in the Jan – May period were performed as planned, meeting demand for socio-economic development, defence and security, state management, debt repayment, and implementation of social security tasks./.

VNA