State budget collection nearly reaches annual goal

The deputy minister stated at a press conference on September 29 that domestic collection accounted for 88.9% of annual estimates, an increase of 18.8% year-over-year. The ministry reported that 61 out of 63 provinces and cities have exceeded 75% of their domestic collection targets, and 52 localities have collected more tax revenue than they did during the same period last year.

State budget collection nearly reaches annual goal (Illustrative image).

The country's state budget expenditures from January to August amounted to 1,086.3 trillion VND, or 60.8% of the budgeted amount and a 5.4% increase year-over-year. Nonetheless, the investment in development disbursement for the nine-month period is 46.7% behind schedule. Only seven ministries and twenty localities disbursed more than fifty percent of the assigned investment capital, while fourteen ministries and central agencies and two localities disbursed less than twenty percent.

On the basis of budget revenues in the first nine months of the year, the ministry forecasts that the economy will expand between 7 and 7.5% this year, while export value will increase by 9.46% and import value will increase by 10.0% year over year.