Budget revenue reached nearly 1.4 trillion VND.

All domestic revenue sources, including crude oil and import/export taxes, decreased, resulting in total budget revenue for the first 10 months reaching only nearly 1.4 trillion VND, 9% lower than the same period last year.

The Ministry of Finance announced that compared to the annual plan, budget revenue for the first 10 months has still reached over 86% of the target.

Of this, domestic revenue is estimated at nearly 1.2 trillion VND, a decrease of nearly 6% compared to the same period last year and reaching nearly 87% of the projected target. More than half of domestic revenue comes from direct revenue from the three production and business sectors, which also decreased by nearly 3% compared to the same period in 2022.

In addition, the total value of goods exports and imports as of October 15th decreased by nearly 11%, resulting in a 17% decrease in the value of taxable goods exports and imports compared to the same period last year.

Regarding revenue from crude oil, the Ministry of Finance estimates that revenue for the first 10 months will be approximately 51,400 billion VND, exceeding the full-year forecast by 20% but decreasing by nearly 20% compared to the same period last year.

Regarding revenue collection in the localities, it is estimated that 24 localities achieved over 86% of their domestic revenue target in the first 10 months; 7 localities saw revenue growth compared to the same period last year, while as many as 56 localities had lower revenue than the same period in 2022.

Total balanced expenditure for the first 10 months reached approximately 1,357 trillion VND, equivalent to 65% of the budget estimate and an 11% increase compared to the same period in 2022. Of this, development investment expenditure is estimated at approximately 401,900 billion VND, equivalent to 55% of the budget approved by the National Assembly and a 35% increase compared to the same period. Interest payments increased by 3% compared to the same period, and recurrent expenditure increased by nearly 4% compared to the same period.

Quynh Trang

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