Budget revenues in January-June reach 54% of this year's target
VGP - State budget revenues reached VND 875.8 trillion (US$ 37 billion) in the first six months, equivalent to 54 percent of this year’s target, reported the Ministry of Finance.
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The above figure doest not includes VND 70.3 trillion in taxes, fees, charges, and land rent entitled to exemption, reduction and payment deadline extension.
Meanwhile, about VND 804.6 trillion from the state budget was spent during the period, equivalent to 38.8 percent of the year’s plan.
In particular, spending on development investment increased to 30.49 percent compared 27.75 percent of the same period last year.
During the first six months, financial and state budgetary tasks were carried out amid the context that the economy had to concurrently address post-pandemic issues and deal with numerous new difficulties and challenges posed by the international and domestic situations.
Budget overspending in 2023 is forecast at VND 455.5 trillion (US$ 19.8 billion), or around 4.42 percent of GDP.
The central budget deficit is projected to reach VND 430.5 trillion (more than US$ 18.7 billion) or 4.18 percent of GDP; and local budget overspending will touch about VND 25 trillion (over US$ 1.08 billion) or 0.24 percent of GDP./.
