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Banking & Finance
Oct 10, 2018 / 06:42

Vietnam state budget revenue up 13.7% in 9 months

Nguyen Tung

Vietnam recorded a fiscal deficit of VND26.8 trillion (US$1.14 billion) in the nine months through September, widening from a deficit of VND1.7 trillion (US$72.69 million) recorded one month earlier.

Vietnam collected VND86.2 trillion (US$3.69 billion) in September for the state budget, accumulating a total of VND962.5 trillion (US$41.23 billion) in the first nine months, equivalent to 73% of the year's estimate and up 13.7% year-on-year, stated the Ministry of Finance. 
 
Illustrative photo.
Illustrative photo.
Of the total, collections from domestic taxes and fees in September reached VND64.6 trillion (US$2.76 billion), up VND2.1 trillion (US$89.95 billion) against the previous month. 

This resulted in a total of VND763.6 trillion (US$32.71 billion) in the January - September period, equivalent to 69.5% of the estimate and up 14.3% year-on-year.

As many as 44 out of 63 provinces have had their budget revenue meet more than 75% of the year's plan and 59 out of 63 provinces have reported higher revenue from a year earlier.

Revenue from crude oil in September stood at VND6.5 trillion (US$278.48 million), totaling VND48.1 trillion (US$2.06 billion) in the nine-month period, or 134% of the year's estimate and up 42.5% year-on-year.

Besides, revenue from trade decreased to VND21.5 trillion (US$921.12 million) in September, down VND4.3 trillion (US$184.23 million) against the previous month, bringing the nine-month value to VND223 trillion (US$9.55 billion), or 78.8% of the year's estimate and up 4.2% year-on-year. 

Meanwhile, Vietnam's state budget expenditures in September hit VND114.1 trillion (US$4.88 billion), reaching a total of VND989.3 trillion (US$42.38 billion) in the first three quarters of 2018, equivalent to 64.9% of the estimate and up 9.8% year-on-year.

This led to a fiscal deficit of VND26.8 trillion (US$1.14 billion) from the beginning of the year to the end of September, widening from the deficit of VND1.7 trillion (US$72.69 million) recorded one month earlier.

During the period, regular spending reached VND690.4 trillion (US$29.56 billion), equivalent to 73.4% of the estimate, up 5.3% year-on-year. Expenditure for development investment stood at VND203.6 trillion (US$8.71 billion) in nine months, equivalent to 50.9% and up 22.2%. 

During the January - September period, the government set aside VND80.5 trillion (US$3.44 billion) for interest payment, equivalent to 71.5% of the estimate and up 6.8% year-on-year.

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