Friday, 24 May 2019
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ECONOMYBANKING & FINANCE

Vietnam's fiscal surplus jumps 3-fold y/y

Updated at Wednesday, 01 May 2019, 09:49
The Hanoitimes - State budget revenues as of April 15 reached VND421 trillion (US$18.09 billion), equivalent to 29.8% of the year`s estimate.
Vietnam saw a budget surplus of VND44.6 trillion (US$1.91 billion) from the beginning of the year to April 15, a three-fold increase compared to a surplus of VND11.3 trillion (US$485.53 million) recorded in the same period last year, according to the General Statistics Office (GSO).
 
Illustrative photo.
Illustrative photo.
State budget revenues as of April 15 reached VND421 trillion (US$18.09 billion), equivalent to 29.8% of the year's estimate. 

Of that total, revenues from domestic taxes and fees in the period stood at VND337.3 trillion (US$14.49 billion) or 28.7% of the year's estimate. Of the sum, the state sector contributed VND43.9 trillion (US$1.88 billion) or 24.7% of the year's plan, the FDI sector VND54.7 trillion (US$2.35 billion) (excluding crude oil) or 25.6%. Moreover, VND69.5  trillion (US$2.98 billion) was collected from non-state industrial, commercial and service taxes, equaling 28.8% of the plan, and VND12.9 trillion (US$554.3 million) from tax on environmental protection or 18.7%. 

Revenue from trade jumped to VND67.7 trillion (US$2.9 billion) or 35.8% of the year's estimate, and that from crude oil exports totaled VND15.3 trillion (US$657.42 million) or 34.4%.

Additionally, the government collected VND37.1 trillion (US$1.4 billion) in personal income tax for the state coffers or 32.8% of the year's estimate, and land use rights VND29.8 trillion (US$1.28 billion) or 33.1%. 

Meanwhile, Vietnam's state budget expenditures as of April 15 totaled VND376.4 trillion (US$16.17 billion), equivalent to 23% of the year's plan. Of the total, regular spending reached VND274.8 trillion (US$11.8 billion) or 27.5% of the plan. Capital expenditure reached VND65.3 trillion (US$2.8 billion) or 15.2%, and interest payment totaled VND35.1 trillion (US$1.5 billion) or 28.1%. 
Ngoc Thuy
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