The General Statistics Office has released budget figures for the year to November 11. Total revenues were estimated at VND807 trillion ($35.88 billion), representing 86 per cent of the annual plan, while expenditure was VND961.9 trillion ($42.77 billion), or 84 per cent of the annual plan.

The budget was therefore in deficit by VND154.9 billion ($6.88 billion).

Revenue from domestic sources stood at VND598.4 billion ($26.10 billion), reaching 93.7 per cent of the annual plan, with revenue from crude oil at VND58.4 trillion ($2.59 billion), or 62.8 per cent, and revenue from import and export activities of VND145.9 trillion ($6.48 billion), representing 83.3 per cent of the plan for the year.

Some domestic revenue sources exceeded annual targets, such as environment protection taxes, at VND21.1 trillion ($938.31 million) and 163 per cent of the target, and land use fees VND49.2 trillion ($2.18 billion) and 126 per cent.

Revenue from income tax was VND49.6 trillion ($2.2 billion), representing 96.7 per cent of the annual estimate, tax payments by foreign investment enterprises, excluding crude oil, reached VND118 trillion ($5.24 billion), accounting for 83 per cent of the annual estimate, and State-owned enterprises (SOEs) forwarded VND185.6 trillion ($8.25 billion) to the State budget, or 84 per cent of the annual plan.

Expenditure of VND961.9 trillion ($42.77 billion) represented 84 per cent of the annual plan. Development expenditure totaled VND143.9 trillion ($6.39 billion), or 74 per cent of the annual estimate, expenditure on socioeconomic development, national defense and security, and administration was VND676.7 trillion ($30.09 billion), representing 88 per cent, and expenditure on debt and donor repayments was VND132.9 trillion ($5.91 billion), representing 88.6 per cent.

Ho Chi Minh City’s budget revenue reached VND249,43 trillion ($11.09 billion), representing 93 per cent of the annual estimate and increasing 5.8 per cent against the same period last year.

Revenue from domestic sources in the city reached VND141.27 trillion ($6.28 billion), or 98 per cent, for an increase of 14 per cent year-on-year, revenue from crude oil stood at VND21.27 trillion ($945.87 million), representing 66.5 per cent and 27.6 per cent lower year-on-year, and revenue from import and export services reached VND84.5 trillion ($3.75 billion), representing 94 per cent and 4.8 per cent higher year-on-year.