State budget revenue up over 5 percent in Q1 of 2018

10:49 | 12/04/2018 Finance - Banking

Total budget revenue in the first quarter of this year reached VND308 trillion (US$13.55 billion), equalling 23.4 percent of this year’s target revenue, an increase of 5.3 percent over last year, according to the Ministry of Finance.

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Of the total revenue for Q1, the domestic revenues totalled roughly VND253 trillion (US$11.13 billion), 7.2 pct higher than the same period last year.

According to the ministry, the progress in budget collection across all localities was relatively positive compared to the yearly plan and increased over the same period of last year, with 43 out of all 63 provinces and cities collecting over 24 pct of their estimates.

Budget revenues from crude oil exports are estimated at roughly VND13.2 trillion, an annual increase of 13.9 pct.

Import-export activities contributed VND67.58 trillion to the State budget, totalling 2.8 pct, less than during the same period last year.

Meanwhile, the total budget spending was VND28 trillion, up 18.8 pct annually.

Regular expenditures in the first three months were estimated at VND222 trillion, up 5.3 pct over the same period last year.

Debt payment and interest expenses during the period totalled VND31 trillion, increasing by 7.8 pct annually.

Theo NDO