HCMC — State budget revenue had exceeded VND2 quadrillion in the year to October 16, beating the full-year target by 2.35%, according to the Vietnam State Treasury (VST).
Domestic revenue excluding crude oil stood at VND1.72 quadrillion, equal to 103.3% of the full-year plan. Revenue from crude oil reached VND39 trillion, or 73.4% of the projection. Import and export value totaled VND249.2 trillion, achieving 106% of the estimate after value-added tax refunds, the Vietnam News Agency reported.
The VST has expanded electronic payment and collection systems with 20 commercial banks to promote cashless transactions for state revenue and expenditure.
By the end of September, the VST had opened 2,594 accounts at commercial banks, including 1,761 for collections and 833 for payments. Of these, 2,454 accounts were in Vietnamese dong and 140 in foreign currency.
As of October 15, regular budget spending had amounted to VND1.21 quadrillion, or 77.8% of the full-year estimate, excluding debt repayments, aid, and reserve fund allocations. Development investment spending totaled nearly VND420 trillion, meeting 49.3% of the prime minister’s plan and 41.3% when including additional local allocations.
The VST said electronic transactions via its online public service portal have helped improve public investment disbursement and transparency.
It added that despite recent progress, public investment disbursement remains below expectations. The VST plans to work with ministries and local governments to address bottlenecks and speed up payments by year-end.
