Vietnam’s budget deficit estimated at nearly 44.6tr dong as of mid-Oct: Ministry

Vietnam’s state budget deficit as of the middle of October 2011 was estimated at 44.565 trillion dong, the Ministry of Planning and Investment (MoPI) said at a meeting on October 26.
Particularly, the total state budget revenue in the first 15 days of October were estimated at 23.96 trillion dong, bringing the accumulated figure from early this year till October 15 to 529.925 trillion dong, or 89.1% of the year’s estimate.

Of which, domestic tax collection reached 323.645 trillion dong, or 84.7% of the year’s estimate, budget revenue from crude oil at 81 trillion dong, or 116.9% of the year’s estimate and collection from export import activities at 120.92 trillion dong, or 87.2% of the year’s estimate.

Of the local tax revenue, state-run enterprises contributed 101.142 trillion dong, or 78.1% of the year’s estimate, foreign-invested firms made up 56.3 trillion dong, or 77.3% of the year’s estimate, tax collection from industry, trade and non-state services at 67.8 trillion dong or 84.3% of the year’s estimate, personal income tax (PIT) collection was 29.6 trillion dong, or 102.4% of the year’s estimate, fee collection from oil and gas at nearly 8.2 trillion dong (69.6%) and other fees made up 5.9 trillion dong (73.6% of the year’s estimate).

In the first half of October, the state budget spending was estimated at about 30.14 trillion dong and the accumulated figure from early this year till the middle of October was estimated at 574.49 trillion dong, or 79.2% of the year’s estimate.

Under which, spending on basic construction investment was 113.5 trillion dong, or 78.1%, spending on socio-economic development, defense and security and administrative management (including expenditures in salary reform) was 377.485 trillion dong, or 80.5% and outlay for debts and aids repayment was nearly 78.08 trillion dong, or 90.8% of the year’s estimate. – Source: Vietbiz24.com

Tags: vietnam Budget deficit

Posted by VBN on Oct 28 2011. Filed under Banking-Finance, Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry