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Submitted by unname1 on Thu, 08/09/2012 - 16:59
Stage budget revenue hit VND49,260 billion in July, bringing the total  to VND393,500 billion in just seven months, according to the Ministry of Finance.

Total proceeds showed a decrease of 2.8 percent from a year ago, said the ministry. The mining sector made a significant contribution to the State coffers, especially sales of crude oil which saw a year-on-year increase of 7.1 percent.

In the reviewed period, total budget expenditure was estimated at VND498,160 billion, including VND81,260 billion in July, up 15 percent on last year..

The increase in budget spending was attributed to the growing demand for national security and defence, social welfare, natural disaster relief, debt settlement, and allowances.

At the end of July 2012, about 50.7 percent of investment capital sourced from the State budget had been distributed, while the expenditure ratio of capital mobilised from sales of Government bonds reached 36.7 percent.

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