Business

State budget collection down 8.8% in eight months

The total State budget collection in the first eight months of this year was estimated at over 1,124 trillion VND (46.83 billion USD), or 69.45% of the estimate, down 8.8% year-on-year, according to the Ministry of Finance (MoF).
State budget collection down 8.8% in eight months ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – The total State budget collection in the first eight months of this year was estimated at over 1,124 trillion VND (46.83 billionUSD), or 69.45% of the estimate, down 8.8% year-on-year, according to the Ministry ofFinance (MoF).

Of which, the central budget revenue reached roughly 72.8% of the estimate while local budgetrevenue was about 65.5%.

It is estimated that out of63 localities, 27 achieved over 68% of their domestic revenue collection targets duringthe period. Nine localities experienced revenue growth and 54others saw lower revenue year-on-year.

The total State expenditure hit more than 1,081trillion VND (45 billion USD), equivalent to 52.1% of the estimate, marking an increase of 13% over the same period last year.

Minister of Finance Ho Duc Phoc asked unitsin the sector to focus on measures to fulfill the financial and budget tasks asset out./.

VNA
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