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Sunday, July 21, 2024

State budget revenue drops in H1

The Saigon Times

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HCMC – The State budget revenue in the first half of this year has reached VND875.8 trillion, falling 7.8% versus the year-ago period and reaching 54% of the full-year estimate, according to the General Statistics Office.

Revenue from domestic sources has amounted to VND718.8 trillion, dropping 4.7% year-on-year and reaching 53.9% of the year’s estimate.

Out of the total revenue, budget collection from State-owned enterprises is projected to have risen by about 10.9% year-on-year to nearly VND98 trillion, while revenue from foreign-invested enterprises (excluding from crude oil) has increased by 0.8% to VND119.4 trillion.

Revenue from personal income tax has amounted to VND86.9 trillion, down 7%.

Crude oil revenue has reached VND30.6 trillion, down 15%, while revenue from import and export activities has totaled VND126.4 trillion, down 20.6%.

Meanwhile, the accumulated budget expenditure in the first six months has increased by 12.9% year-on-year to VND804.6 trillion, equivalent to 38.8% of the 2023 estimate.

Out of the total budget spending, development investment has amounted to an estimated VND215.6 trillion, up a significant 43.3%, while regular spending has reached VND537.4 trillion, up 5.5% compared to the same period last year.

Expenditure on interest payments has amounted to VND51 trillion, a 0.8% decline.

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