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Friday, July 1, 2022

State budget surplus reaches over VND175 trillion in four months

By Van Phong

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HCMC – The State budget revenue totaled VND645.3 trillion in January-April this year, while the total spending was only VND470.2 trillion, resulting in a surplus of over VND175 trillion (over US$7.5 billion), according to the Ministry of Finance.

Regarding the State budget collection and spending in April and the first four months of the year, the ministry said that the State budget revenue reached VND160.2 trillion last month, rising VND3.2 trillion month-on-month.

Of the total, VND129.5 trillion was collected from domestic production and business activities, up VND9 trillion, as some amounts in the first quarter were collected in the second quarter, while the revenue from crude oil and import-export activities was estimated at VND6.6 trillion and VND24.1 trillion, down VND1.3 trillion and VND4.4 trillion, respectively.

In the four-month period, the State budget revenue met 45.7% of the full-year target and rose 13.3% year-on-year. Of which, the State budget revenue reached 46.4% of the target for this year, while provincial budget revenue met 45% of the target.

The revenue from domestic production and business activities totaled VND520.3 trillion, up 9.1% over the year-ago period. According to the Ministry of Finance, the figure reflected the country’s socioeconomic performance in the first four months and the effectiveness of the Government’s policies supporting pandemic-hit residents and enterprises.

The revenue from crude oil and import-export activities was VND24.1 trillion and VND100.9 trillion, surging 93.4% and 27.1% year-on-year, respectively.

The State budget revenue was mainly sourced from taxes on crude oil, fuel imports, apparel materials, footwear, phones and phone parts, computers and chemicals.

As for the State budget spending, the VND470.2 trillion in the first four months of the year was equivalent to 26.3% of the full-year target and rose a slight 2.4% over the same period last year. Of the total, VND95.7 trillion was spent on investment projects, VND33.8 trillion on debt payments and VND340.2 trillion on regular expenditure.

In addition, the State spent VND963.5 billion in the fight against Covid-19, supporting pandemic-hit residents and those affected by natural disasters.

The Government had approved VND518.1 trillion for development investment. Moreover, localities’ capital for investment sourced from their budget surplus rose by VND42 trillion.

Ministries, agencies and localities have allocated 92.23% of the capital approved by the Government.

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