State budget collection up 5.3% in Q1
Total revenue of the State budget reached VND308.4 trillion (US$13.6 billion) in the first quarter of 2018, equivalent to 23.4% of the yearly estimate and up 5.3% year-on-year, said the Ministry of Finance.
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Domestic revenue, estimated at VND253.1 trillion (US$11.16 billion), rose by 7.2% from the same period last year. The figure was equal to 23% of the estimate.
Meanwhile, revenue from crude oil surged 13.9% year on year to VND13.2 trillion (US$582.1 million), accounting for 36.9% of the estimate. Import-export activities contributed nearly VND67.58 trillion (US$2.98 billion) to the State budget, equal to 23.9% of the estimate.
In the reviewed period, State budget spending stood at VND290 trillion (US$12.78 billion), equal to 19% of the yearly estimate and up 1.7% annually.
Of the sum, development investment spending, regular spending and debt payment were VND35.3 trillion (US$1.55 billion), VND222.5 trillion (US$9.81 billion), and VND31.4 trillion (US$1.38 billion), respectively.
Government bonds worth VND40.4 trillion (US$1.78 billion) were issued as of March 28, ensuring supply for spending and debt payment.
The Finance Ministry said it would continue coordinating with relevant agencies to enhance budget collection management and combat smuggling, trade fraud and transfer pricing, along with handling tax arrears.
