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Brunei
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Wednesday, August 17, 2022
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    Vietnam’s state budget collection up 18.7pc in five months

    HANOI (XINHUA) – Vietnam posted a budget collection of VND806.4 trillion in the first five months of this year, up 18.7 per cent year on year, the country’s Ministry of Finance said on Friday. Domestic revenue over the months rose 14.9 per cent from the same period last year to VND646 trillion, while the revenue from import-export activities increased by 29.7 per cent to VND130.8 trillion, and that from crude oil surged by 90.9 per cent to VND29.4 trillion, according to the ministry.

    In January and May, Vietnam’s budget-spending stood at VND589.1 trillion, up 3.7 per cent year-on-year. Regular spending stood at VND428.4 trillion, accounting for the largest proportion of the country’s total expenditure, and up 2.5 per cent.

    In 2021, Vietnam’s state budget deficit was below four per cent of its gross domestic product (GDP), despite its spending to fight the coronavirus pandemic.

    The state budget deficit for 2022 is estimated at four per cent of the GDP.

    Workers process fish for export at a factory in Vietnam. PHOTO: XINHUA
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