Vietnam - Vietnam's state budget deficit at nearly 4tr dong in Jan

At the regular cabinet meeting session in January 2012, the Vietnamese Ministry of Planning and Investment (MoPI) reported the socio-economic situation in January whereby the total state budget revenues in January were estimated at 61.5 trillion dong, or 8.3% of the year's estimate and the total state budget expenditures were estimated at 65.4 trillion dong, or 7.2% of the year's estimate.

Thus, the state budget deficit in January was estimated at 3.9 trillion dong, or 0.39% of the country's GDP (gross domestic products). In 2012, Vietnam's state budget deficit target is at 4.8% of GDP.

Owing to the impact of prolonged Lunar New Year (Tet) holiday plus the difficulties of the business and production activities, especially enterprises in key sectors such as automobiles, iron and steel and cement, the state budget revenues in the first month of 2012 were affected, the report said.

In addition, state budget spending on development investments in January was estimated at 11.4 trillion dong, or 6.3% of the year's estimate and the total actualized FDI (foreign direct investment) capital was estimated at $400 million, or 95% compared to the same period of 2011.

The country's disbursed ODA (official development assistance) capital in January was estimated at about $72 million, including $50 million worth of loans and $22 million of non-refundable aids.

VietBiz24

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