CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
Total state budget's revenue exceeds US$13.5 billion
Ngoc Thuy 16:30, 2018/04/11
For the first quarter, total state budget exceeded VND308 trillion (US$13.5 billion), equivalent to 23.4% of the year estimation and up 5.3% year on year.
Notably, domestic tax collections contributed VND253 trillion (US$11.1 billion), increasing 7.2% over the last year's figure, stated a recent Ministry of Finance's report. 
 
Total state budget's revenue exceeds US$13.5 billion.
Total state budget's revenue exceeds US$13.5 billion.
Excluding tax payments from housing and lands, income from lottery activities, dividends and after-tax profits from state-owned enterprises, the domestic tax collections reached VND209 trillion (US$9.2 billion), up 10.9% year on year. 

49 out of 63 cities and provinces collected over 24% of the estimates, in which 43 reported higher budget collection that the same period of last year, while 20 recorded a lower budget collection year on year. 

Budget revenue from crude oil in the first quarter was estimated at VND13.2 trillion (US$582.1 million), up 13.9% year on year. The crude oil price in the world market has been on the rise since last December, taking the accumulated average price at US$67.2 per barrel, up US$17.2 per barrel comparing to the estimates. 

The report noted state budget revenue from trade activities hit VND67.5 trillion (US$2.97 billion), down 2.8% year on year. The revenue is equal to 23.82% of estimation and 23% of the 2018 target.

In March, Vietnam's customs revenue is estimated at VND23.5 trillion (US$1.03 billion), significantly higher than in February. In 2018, custom revenue is set at VND283 trillion (US$12.4 billion), while the Ministry of Finance Dinh Tien Dung expected the actual revenue to be at least 3 - 5% higher. 

In February, Vietnam's customs revenue is estimated at VND18.1 trillion (US$796 million), significantly lower than in January, due to the interference of the Lunar New Year (Tet)

Vietnam`s import-export duty revenue in the first 2 months of 2018 is reported at VND42.5 trillion (US$1.8 billion), up 1.6% over the same period of last year, according to GDVC. The revenue was equal to 14.5% of the 2018 target of VND293 trillion (US$12.9 billion)

State budget expenditure accounted for VND109 trillion (US$4.8 billion) in March, resulting in total state budget expenditure in the first quarter of VND280 trillion (US$12.3 billion), equivalent to 18.8% of estimates, and up 0.7% compared to the last year's period. 

Of the total, regular expenditures are posted at VND222 trillion (US$9.8 billion), up 5.3% year on year, while payments for debts were seen at VND31 trillion (US$1.36 billion), up 7.8% comparing to the first quarter of last year. 
Comments
Other news
15:51, 2025/02/24
Vietnam set to have digital banks within financial centers
Credit institutions headquartered in these financial centers will not be bound by restrictions on to foreign ownership or foreign investment conditions when providing services there or across borders.
14:30, 2025/02/15
Hanoi expands cashless parking pilot program
Hanoi is advancing its efforts to integrate technology into urban management by expanding the pilot program for cashless parking payments throughout the city.
16:58, 2025/02/11
Prime Minister urges banks to prioritize economic support over profits
One of the key priorities for the banking sector is to support small and medium-sized enterprises (SMEs), as they generate a large number of jobs and contribute significantly to the economy.
17:23, 2025/02/07
Vietnamese Gov’t forecasts CPI growth of up to 4.5% in 2025
With the goal of at least 8% GDP growth, the money supply in the economy will be significantly larger than in 2024. This will have an impact on price indices, particularly consumer prices.
17:51, 2025/01/07
Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.
16:49, 2025/01/06
Vietnam GDP expands by 7.09% in 2024
The 2024 growth rate is considered positive amidst global uncertainties and domestic challenges such as natural disasters.