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Sunday, February 28, 2021

State budget revenue in Q1 grows 1.8%

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HCMC – The State budget revenue in the first quarter of 2020 reached VND391 trillion, meeting 25.9% of this year’s target and rising by 1.8% year-on-year.

According to data from the Ministry of Finance, the State budget revenue in March alone was VND106.4 trillion.

Of the figure, domestic revenue was VND324.7 trillion, meeting 25.7% of the year’s target and rising by 3.6% year-on-year. Fifty-two out of the country’s 63 cities and provinces met their revenue targets.

The country earned VND77 trillion from imports and exports in the first quarter of 2020, representing 22.8% of the full-year target and down 8.8% year-on-year.

Revenue from crude oil reached VND14.6 trillion, meeting 41.4% of the year’s estimate and up 7.3% compared with the same period last year.

State spending in the first quarter was over VND343.1 trillion, or 19.6% of this year’s projection, rising by 8.7% year-on-year. State spending in March alone was VND122.5 trillion.

The Ministry of Finance noted that the Government and local authorities have increased spending for the healthcare sector, particularly for coronavirus infection prevention and control measures.

Budget disbursement for new developments in need of funding as of March 15 reached nearly VND40 trillion, meeting 8.86% of the year’s target.

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