THE SOCIALIST REPUBLIC OF VIET NAM
Government News
Budget surplus recorded in first seven months
VGP – Budget collection was a bright highlight in the first seven months of 2019 as it expanded three times higher than the average rate of VND 38,300 in the same period of previous years.
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Source: VGP |
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The budget surplus was also contrary to the estimated budget overspending of VND 220,000 billion, equivalent to 3.6% of GDP.
Over the past years, State budget continually had overspending rates at 6.1% in 2015; 3.7% in 2016; and 3.46% in 2018.
In the January-July period, domestic collection accounted from 61.8% of total budget collection, higher than the rate of 58.4% in the same period last year.
State budget collection from trade activities met 68.2% of the preset goal, much higher than the rate of 17.9% in the same period last year despite declined export and import tariffs in accordance with CPTPP.
Budget collection from crude oil accounted for 77% of forecast as total quantity of crude oil exported increased 8.7%./.
By Kim Anh