State budget revenue has reached over VND1.3 quadrillion ($59.5 billion) so far this year, representing 91.14 percent of the annual estimate, according to the Deputy General Director of the State Treasury, Nguyen Quang Vinh.
Domestic collections hit 1.16 quadrillion VND, or 92.29 percent of the annual plan. Revenue from crude oil totalled over 33.9 trillion VND, equivalent to 96.52 percent of the plan. Imports and exports contributed 176.7 trillion VND to total revenue, or 84.96 percent of the yearly estimate.
State budget expenditure stood at 993.7 trillion VND, equal to 88.9 percent of the annual estimate of recurrent expenditure of the State budget through the Treasury, excluding payment of debts, assistance, additional spending on financial reserve funds, and provisions.
As of mid-December, 356.8 trillion VND out of 471.7 trillion VND in public investment had been disbursed, equal to 75.6 percent of the annual plan and up 12.4 percent year-on-year.
Vinh said that as of December 22, the State Treasury had mobilised a total of nearly 321 trillion VND to the State budget, equivalent to 94.6 percent of the plan set for the year./.VNA
With an expected economic growth rate of 2-3 per cent this year, the National Assembly has decided on a rise in budget deficit in order to ensure state budget spending, amid enterprise revenues being hit by the health crisis.
The COVID-19 pandemic will continue to weigh on socio-economic development and State budget in 2021 and the years that follow, Minister of Finance Dinh Tien Dung said.