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
Vietnam records US$3.81-billion fiscal surplus in 11 months
Ngoc Thuy 18:05, 2019/11/30
As of November 15, the country's state budget revenue reached VND1,299.4 trillion (US$56.18 billion), equivalent to 92.1% of the year's estimate.

Vietnam recorded a state budget surplus of VND88.3 trillion (US$3.81 billion) in the year to November 15, 2019, indicating a significant improvement from a budget surplus of VND10 trillion (US$432.36 million) in the same period of last year, according to the General Statistics Office (GSO). 

 Illustrative photo.

As of November 15, the budget revenue collection reached VND1,299.4 trillion (US$56.18 billion), equivalent to 92.1% of the year's estimate.  

Upon breaking down, domestic revenue during the period stood at VND1,051.2 trillion (US$45.45 billion), equivalent to 89.6% of the year's estimate. Of the sum, the state sector contributed VND142.5 trillion (US$6.16 billion), or 80.2% of the year's estimate, the FDI sector VND178.3 trillion (US$7.7 billion), meeting 83.4% of the plan. 

Moreover, VND204.7 trillion (US$8.85 billion) was collected from non-state industrial, commercial and service taxes, equaling 84.8% of the plan, and VND50.8 trillion (US$2.2 billion) from tax on environmental protection or 73.6%. 

Revenue from import-export activities hit VND194.5 trillion (US$8.4 billion), up 2.8% against the year's estimate, and that from crude oil exports totaled VND49.5 trillion (US$2.14 billion), up 11.1%.

Additionally, personal income tax contributed VND97.8 trillion (US$4.22 billion) to the state budget or 86.4% of the year's estimate, and land use rights VND115.3 trillion (US$4.98 billion), 28.1% above the plan.

Meanwhile, state budget expenditures as of November 15 totaled VND1,211.1 (US$52.36 billion), equivalent to 74.1% of the year's plan. Of the total, regular spending reached VND858.4 trillion (US$37.11 billion) or 85.9% of the plan. Capital expenditure reached VND228.9 trillion (US$9.89 billion) or 53.5%, and interest payment, VND93.4 trillion (US$4.03 billion) or 74.8%. 

“State budget revenue collection progressed as planned, while the expenditure has timely met demand for development, debt payment, national security, social welfare and operation of the government,” stated the GSO. 

In 2018, the country's state budget revenue was 7.8% higher than the estimate and the budget deficit was kept at VND191.5 trillion (US$8.18 billion), equivalent to 3.46% of the GDP - lower than the estimate of 3.7% of GDP.

RELATED NEWS
TAG: Vietnam fiscal surplus November 11 months budget expenditure state
Other news
18:20, 2024/05/09
Vietnam's non-cash payments reach US$9.8 trillion, 23 times GDP
Many of the banking industry's digital transformation goals for 2025 are on track to be met or exceeded.
21:53, 2024/05/04
PM urges Central bank to ensure positive growth in 2024
Local lenders are encouraged to provide incentives and attract individuals to take out consumer loans.
17:07, 2024/05/03
Vietnamese Gov't to continue VAT cut for second half of 2024
If the VAT reduction policy is continued for the last six months of the year, the total revenue loss for 2024 is projected to be approximately VND47.5 trillion (US$1.87 billion).
21:54, 2024/04/23
3,400 taels of gold purchased at the first-in-11-year auction
Gold trading firm SJC and lender ACB are the two successful bidders at the auction held today.
16:19, 2024/04/22
HoSE to launch KRX-developed transaction system in early May
Brokerage firms are expected to prepare data for the transition to the new system.
15:23, 2024/04/22
Central bank moves gold auction to tomorrow
The auction was postponed due to a lack of bidders and escrow deposits.