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Ho Chi Minh City
Monday, June 27, 2022

State budget revenue in Jan-Nov exceeds full-year target

The Saigon Times

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HCMC – The State budget revenue in the January-November period of this year reached nearly VND1.4 quadrillion, exceeding this year’s target by 3.4% and rising 8.9% year-on-year, according to the Ministry of Finance.

The revenue from domestic production and business activities, crude oil and import and export activities surged, the local media reported.

Specifically, the revenue from domestic production and business activities reached some VND1.14 quadrillion, or 100.6% of the target for the whole year and up 6.2% over the year-ago period.

Meanwhile, the revenues from crude oil and import-export activities were VND38.1 trillion and VND210.6 trillion, representing 164.2% and 118% of the targets, respectively.

In addition, the revenues from State and non-State enterprises were 1% and 8% higher than the year’s targets, respectively, while the revenue from foreign-invested firms met 99.7% of the target.

In the 11-month period, State spending was nearly VND1.3 quadrillion, meeting 75.2% of the target.

Moreover, the disbursement of investment for development met 63.86% of the plan set out by the prime minister.

In the January-November period, the country spent VND56.27 trillion on the fight against Covid-19 and support for pandemic-hit residents and enterprises.

In general, the State budget incurred a deficit in the 11 months, while localities enjoyed a large budget surplus, according to the Ministry of Finance.

To ensure the effective use of the State budget, compensate the budget deficit and pay mature debts, as of November 26, the Ministry of Finance issued VND288 trillion worth of Government bonds with an average term of 13.51 years and an average interest rate of 2.28% per year.

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