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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. 
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