State budget revenue surpasses nearly 20% of estimate

State budget revenue reached over 1.69 quadrillion VND (71.4 billion USD) as of December 15, exceeding the estimate by 19.8%, the Ministry of Finance announced at a conference in Hanoi on December 19.

Monday, December 19, 2022 16:50

State budget revenue surpasses nearly 20% of estimate ảnh 1

Prime Minister Pham Minh Chinh speaks at Ministry of Finance's conference (Photo: VNA)

Hanoi (VNA) – State budget revenue reached over 1.69 quadrillionVND (71.4 billion USD) as of December 15, exceeding the estimate by 19.8%, theMinistry of Finance announced at a conference in Hanoi on December 19.

Of the total revenue, central budget collection surpassed the estimate by 19.3%, and that of local budget by 20.4%.

The ministry attributed the high budget revenue to theeconomic recovery, with gross domestic product (GDP) expected to expand by 7.5%in 2022, higher than the plan.

In 2022, the Ministry of Finance has also implemented manypolicies on exempting, reducing and postponing taxes, fees and charges to helpbusinesses restore production and business, thereby making their contributionsto the budget.

Since the beginning of the year to December 15, 193.4trillion VND worth of taxes, land rent, fees and charges had been exempted,decreased or extended.

In the period, state budget spending is estimated at1.45 quadrillion VND, equal to 81.2% of the estimate, in whichspending on development investment reached 72.4% of the estimate, and recurrentexpenditure 88.1%.

The ministry actively made recommendations to an economic recoverypackage worth 347 trillion VND, with focus on infrastructure investment, socialwelfare and digital transformation; and requested ministries, sectors andlocalities to cut recurrent expenditure by 10% compared to budget allocationnorms./.

VNA

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