Business

Two-month state budget collection grows 10.4% year on year

An estimated 399.4 trillion VND (nearly 16.18 billion USD) was collected for the state budget in the first two months of 2024, equivalent to 23.5% of the year’s target and up 10.4% from a year earlier, the Ministry of Finance reported on March 6.
Two-month state budget collection grows 10.4% year on year ảnh 1Illustrative photo (Photo: VNA)

Hanoi (VNA) – An estimated 399.4 trillion VND (nearly 16.18 billion USD) wascollected for the state budget in the first two months of 2024, equivalent to 23.5% of the year’s target and up 10.4% from a year earlier, theMinistry of Finance reported on March 6.

Theministry said that domestic revenue reached 24.6% of the targetand increased 14.6% compared to that of the same period last year partlybecause economic activities in the first months of the year still maintainedpositive growth momentum from the end of the previous year and good consumption during the Lunar New Year holiday.

Theministry reported that 55 out of the country's 63 provinces and centrally-runcities recorded domestic revenue topping 16% of the estimate. Fifty-three localities saw an increase in collection compared tothe January-February period in 2023 while 10 reported adecline in domestic revenue.

Meanwhile,state budget spending in the first two months of this year was estimated at 270.7 trillion VND, equal to 12.3% of the estimate, and up 7.7% year-on-year. Of the total, nearly 60 trillion VND was for development investment.

Inthe period, to continue supporting businesses and peopleto overcome difficulties, the Government exempted or reduced taxes, fees, andcharges worth about 12.1 trillion VND./.

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