Business

State budget collection tops 1 quadrillion VND in 7 months

The total revenue to the State budget between January and July exceeded 1.01 quadrillion VND (42.53 billion USD), equaling 62.7% of the yearly estimate and dropping by 7.8% from the same period last year.
State budget collection tops 1 quadrillion VND in 7 months ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – The total revenue to the State budget between January and July exceeded 1.01 quadrillion VND (42.53 billion USD),equaling 62.7% of the yearly estimate and dropping by 7.8% from the same periodlast year.

According to the Ministry of Finance, of the 63 localitiesnationwide, eight saw annual increases in their collection revenue, while the 55others recorded decreases.

Minister Ho Duc Phoc said due to objective reasons, somesources of revenue declined significantly, such as the environmental protectiontax on gasoline and oil and revenue from houses and land, which went down byover 38% and 53% year-on-year, respectively.

The official noted the collection work has so far ensuredprogress to meet the 2023 estimate of more than 1.62 quadrillion VND. However,difficulties are abundant for the remaining part of the year.

The ministry said the total State budget expenditure for thefirst seven months reached 957 trillion VND, or 46.1% of the estimate, marking a13.7% increase from the same period in 2022./.
VNA
#total revenue#State budget collection#Ministry of Finance#Ho Duc Phoc#vietnam#vietnam news agency#vietnamplus
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