VN Jan-Apr budget revenue falls behind estimate
VN Jan-Apr budget revenue falls behind estimate
With most local businesses still in trouble, the state budget collection in the first four months of the year has failed to meet estimates, the Ministry of Finance has announced.
Total government revenue from the beginning of the year to April 15 was some VND201.4 trillion (US$9.68 billion), or 24.7 percent of the full-year estimate, according to the General Statistics Office.
Domestic tax collection, a vital source of government revenue, reached VND133.9 trillion, equaling 24.5 percent of the full-year estimate, while revenue from crude oil stood at VND34.6 trillion (35 percent).
Budget revenue from import – export activities reached VND32 trillion, while the full-year estimate is VND166.5 trillion.
According to the estimates, the average monthly domestic tax collection should reach VND45.460 trillion (US$2.19 billion), while the real figure is only VND40.11 trillion, or 88.24 percent of the required amount.
Similarly, budget revenue from the import and export duties stood at VND14.07 trillion a month, equal to only 71 percent of the VND19.8-trillion estimate.
“The main cause of the government budget shortfall is the troubled operations of local businesses, especially the small- and medium-d enterprises,” the ministry stated.
Meanwhile, state expenditure as of April 15 was estimated at VND258 trillion, or 26.4 percent of the full-year estimate.
The budget deficit thus stands at VND56.6 trillion.
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