January-May budget revenues account for 47% of this year's targets
VGP - Budget collection was estimated at VND 769.6 trillion in the first five months this year, equivalent to 47.5 percent of the initial whole-year target, according to the Ministry of Finance (MoF).
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Though the domestic revenue over the reviewed period was quite good compared to the preset target, the monthly revenue tended to decrease from 14.7 percent in January to 7.7 percent in February, 8.9 percent in March, 9.9 percent in April, and 6.4 percent in May.
The domestic budget revenue in the first five months was equal to 97.1 percent of that recorded in the same period last year.
Seventeen out of 63 localities reported to have achieved over 48 percent of budget collection. Meanwhile, 13 others reported higher budget revenue. Up to 50 localities confirmed lower year-on-year budget collection.
In the first half of May, trade turnover was estimated at around US$45.5 billion, representing a year-on-year decline of 19 percent.
Meanwhile, the amount of tax exemption, reduction and extension valued VND 63,160 billion including VND 25,160 billion of tax reduction and exemption and VND 38 billion of tax extension.
In 2023, total budget revenue is expected to reach VND1,620 trillion compared to VND1,803 trillion in 2022./.
