Budget collection moves closer to set goal

14:03 | 04/11/2014

VGP – State budget collection fulfilled 91.1% of estimates in the first ten months, representing a year-on-year increase of 15.2%, according to the Ministry of Finance (MoF).

Illustration photo

According to the MoF’s latest report, in the reviewed period, budget collection valued VND 719,490 billion.

In the first nine months, the collection touched over VND 636 trillion, representing 81.3% of estimates.

As of late October, domestic collection met 90% of estimates; up 16.5% against the same period last year. Tax collected from export activities accomplished 92.2% of estimates, seeing a year-on-year surge of 14.4%.

Tax agencies sped up measures to reclaim tax arrears; tighten management especially through the classification of tax arrears and extension of tax payments.

In the January-October period, budget spending valued VND 853,645 billion, accounting for 84.8% of estimates. Disbursement of State budget investment made up around 84.9% of estimates; and that of Government bonds 74.5%.

As of late September, budget overspending was estimated at VND 134,155 billion, representing 59.9% of this year’s estimates.

As of October 24, the value of issued Government bonds reached VND221,240 trillion./.

By Kim Anh