State budget revenues exceed VND1 quadrillion in ten months

Monday, 2018-11-12 17:07:50
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Import and export activities contribute VND253.5 trillion (US$10.9 billion) to the State budget during the January-October period. (Photo: VNA)
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NDO – State budget revenues reached over VND1.12 quadrillion (US$48.16 billion) in the first ten months of 2018, equivalent to 84.9% of the year’s estimate and up 15.1% against the same period last year, announced the Ministry of Finance on November 12.

Accordingly, in October alone, domestic revenues hit more than VND113 trillion (US$4.86 billion), representing an increase of VND34 trillion (US$1.46 billion) compared to the previous month. The hike was mainly because of the fact that businesses were due to declare and pay taxes subject to quarterly payments last month.

The October surge led the ten-month domestic revenues to hit VND896.8 trillion (US$38.56 billion), up 15.8% over the same period of 2017.

Revenues from crude oil were estimated at VND52.1 trillion (US$2.24 billion) between January and October, equivalent to 145.2% of the year’s estimate and up 37.5% year-on-year.

Import and export activities contributed VND253.5 trillion (US$10.9 billion) to the State budget during the period, meeting 89.6% of the year’s projection and increasing by 6.5% annually.

Total budget spending was estimated to reach more than VND1.103 quadrillion (US$47.43 billion) in the first ten months of 2018, a year-on-year rise of 9.4%, with regular expenditure surging by 5.1% year-on-year to VND768.4 trillion (US$33.04 billion).