According to the report, despite a number of difficulties due to the impact of the global economic downturn and high inflation rate, State Budget collection and spending showed encouraging results in 2008, helping to successfully control inflation, stabilise the macro-economy and ensure social welfare.

Budget collection reached nearly VND430,550 billion, VND107,000 billion higher than expected. With efforts of ministries, departments and localities in implementing budget accounting, the report on State budget estimates was completed on time.

Although the Government called for practising thrift, budget spending still exceeded the target of VND54,000 billion.

Dinh Trinh Hai, vice chairman of the NAFBC, pointed out that budget collection was not steady due to violations of tax management.