Vietnam state budget revenue up 13.8% in 8 months
Vietnam recorded budget overspending of VND1.7 trillion (US$72.69 million) by the end of August, compared to a year-to-date deficit of VND6 trillion (US$257.45 billion) recorded 15 days earlier.
Vietnam collected VND84 trillion (US$3.58 billion) in August for the state budget, accumulating a total of VND871.8 trillion (US$37.24 billion) in the first eight months, equivalent to 66.1% of the year's estimate and up 13.8% year-on-year, stated the Ministry of Finance.
Illustrative photo.
|
This resulted in a total of VND695.8 trillion (US$29.72 billion) in the January - August period, equivalent to 63.3% of the estimate and up 14.8% year-on-year. There were 44 out of 63 provinces with domestic revenue equivalent to the estimate of over 67% and 60 out of 63 provinces with higher revenue year-on-year.
Revenue from crude oil in August stood at VND5.3 trillion (US$226.43 million), totaling VND40.9 trillion (US$1.74 billion), or 113.9% of the year's estimate and up 35.1% year-on-year, while revenue from trade jumped to VND25.8 trillion (US$1.10 billion), bringing the eight-month value to VND199.7 trillion (US$8.53 billion), or 70.6% of the estimate and up 4% year-on-year.
Meanwhile, Vietnam's state budget expenditures in August hit VND113.8 trillion (US$4.86 billion), reaching a total of VND873.5 trillion (US$37.31 billion) in the first eight months, equivalent to 57.3% of the estimate, up 10.2% year-on-year.
This led to budget overspending of VND1.7 trillion (US$72.69 million) from the beginning of the year to the end of August, a significant improvement from a deficit of VND6 trillion (US$257.45 billion) recorded 15 days earlier.
As of August 27, regular spending reached VND484 trillion (US$20.67 billion), equivalent to 56.12% of the estimate. Expenditure for development investment stood at VND176.83 trillion (US$7.55 billion) in eight months, equivalent to 44.24% or the target set by the National Assembly and 45.57% set by the government.
During the January - August period, the government's payables were posted at VND152.71 trillion (US$6.52 billion), of which foreign and domestic debts were VND122.8 trillion (US$5.24 billion) and VND29.91 trillion (US$1.27 billion), respectively.
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.
14:39, 2025/01/04
Vietnam stock market set to accelerate in 2025: Experts
Stable macroeconomic fundamentals, ongoing institutional reforms, and favorable monetary policies will be positive for corporate earnings.
16:31, 2025/01/02
Vietnam stock market aims for emerging status by 2025: Finance minister
By the end of 2024, the benchmark VN-Index reached 1,266.78 points, up 12.11% from 2023.
15:33, 2025/01/02
Vietnam set to extend VAT cut for six months
This measure is expected to accelerate the recovery of production and business activities, which will ultimately benefit the state budget and the economy as a whole.
21:29, 2024/12/31
Vietnam’s credit growth projected to expand by 16% in 2025
Growth must put operational safety first, and channel credit to productive business sectors, priority areas, and growth-driving industries.
- Regional, international financial centers mean boosters to Vietnamese economy: Deputy PM
- IFC sets record with US$1.6 in climate financing to support Vietnam’s green transition
- Vietnam's credit growth up 10% in 10 months
- Building Hanoi's smart city with smart banking
- Vietnam stock market clears major legal hurdle to potential upgrade
- Cashless parking in Hanoi: Good model fuels smart transport