Vietnam - Vietnam’s state budget deficit as of mid-Nov estimated at 52.9tr dong

Vietnam’s total state budget revenue from early this year till November 15, 2011 was estimated to reach 586.2 trillion dong, or 98.5% of the year’s estimate, General Statistics Office (GSO) reported.

Under which, total local tax collections reached 359.1 trillion dong, or 94%, tax collection from crude oil made up 90.3 trillion dong, or 130.3% and state budget balance collection from export import activities contributed 132.1 trillion dong, or 95.2%.

Of the total local collections, the revenue from state-owned enterprises was equal to 85.6% of the year’s estimate, revenue from foreign-invested enterprises (excluding crude oil) was equal to 86.9%, collection of trade and commerce taxes and private services at 93.2%, personal income tax (PIT) collection at 113.5%, collection from petroleum fee at 72.1% and collection from fees at 80.5%.

Meanwhile, also till the middle of November, the total state budget spending was estimated at 639.1 trillion dong, or 88.1% of the year’s estimate.

Of which, expenditures for development investment were 133.2 trillion dong (or 87.6% of the year’s estimate), including 127 trillion dong or 87.4% for basic construction investment, spending for socio-economic development, defense, security and state management was 419.5 trillion dong, or 89.4% and expenditures for debt and aid repayment were 86.4 trillion dong, or 100.4% of the year’s estimate.

Thus, the state budget deficit from early this year till November 15 was estimated at 52.9 trillion dong, or 43.7% of the year’s estimated approved by the National Assembly and increasing 18.9% from the same period last month (44.5 trillion dong).

VietBiz24

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