MoF: National Budget Revenue for the first 7 months: Positive results

MoF: National Budget Revenue for the first 7 months: Positive results 05/08/2011 04:34:00 803

Font-size:A- A+
Contrast:Increase Decrease

According to MoF report, the total national budget revenue in July is 51,510 billion VND, with an increase of 4,770 billion VND compared to that of June, so the accumulated national budget revenue for the first 7 months is 386,760 billion VND, equals 65% of the estimated budget and 21% up compared to 2010.

 

Domestic revenue increased about 7,000 billion VND compared to June, equals 62.3% of the estimated budget, with 9/14 revenues of about 60% or more of the estimated budget. The reason is that July is the time the enterprises and individual business pay their corperate income tax in the second quarter of 2011; the collection of 5,000 billion VND for new tax and 3,200 billion VND for diference between revenues and expenditures from the Nationnal Bank in the second quarter in 2011. However, due to the general difficulties in economy, most of the other domestic revenues decreased; incomes from crude oil is about 82.4% of the estimated budget; income from import and export activities is about 63.8% of the estimated budget.

 

National Budget expenditures in July is about 58,630 billion VND; the accumulated expenditure for the first 7 months is 420,330 billion VND, about 57.9% of the estimated budget and 20.25 up compared to that of 2010. Among these expenses, one on development investment in July is about 11,200 billion VND, the accumulated expenditure for the first 7 months is 89,377 billion VND, about 58.8% of the estimated budget; one on aided debt payment in July is about 7,890 billion VND, the accumulated expenditure for the first 7 months is 54,790 billion VND, about 63.7% of the estimated budget, ensuring the complete payment for the committed debt in time; one on social economic development, national defence, security, state administration (including salary reform) in July is about 39,530 billion VND, the accumulated expenditure for the first 7 months is 276,163 billion VND, about 58.9% of the estimated budget.

 

Overspending in July is about 7,120 billion VND, the accumulated expenditure for the first 7 months is 33.570 billion VND, about 27.8% of the one decided by the National Assembly and would be made up by revenue from domestic and foreign sources.

 

The release of national bonds to make up for the overspending and to invest in transportation, irrigation, education, health care, and students’ hostels in 7/2011 is rather positive. To 20/7/2011, 46,815 billion VND of national bond had been mobilized, equaling 55% of the whole year target.

 

TDương