Lottery revenue hits record high

According to the Ministry of Finance , as of the end of September, estimated revenue from lottery sales nationwide reached VND 34,546 billion, an increase of nearly 20% compared to the same period last year. This is also the highest lottery revenue in the first three quarters of the year ever recorded. Compared to the plan for the whole year of 2023, this revenue has reached 92% of the target.

Revenue from lottery sales is concentrated in the southern provinces and cities. In Ho Chi Minh City alone, revenue from lottery operations in the first nine months of the year reached 3,585 billion VND, accounting for approximately 10% of the national revenue and increasing by 8% compared to the same period last year.

In several other southern localities, lottery revenue in the first nine months of the year also increased sharply, all exceeding one trillion VND. For example, revenue in Dong Nai reached 1,630 billion VND, an increase of 35%; Can Tho 1,327 billion VND, an increase of 11%; Dong Thap over 1,520 billion VND, an increase of nearly 20%; Tien Giang 1,460 billion VND, an increase of over 15%; Vinh Long collected over 1,187 billion VND, an increase of nearly 10%…

Amidst challenging economic conditions, lottery revenue is one of the few sources of income that recorded growth compared to the same period last year. Other major revenue sources such as personal income tax, environmental protection tax, various fees and charges, revenue from crude oil, and import-export activities all declined.

Finance - Banking - Revenue from lottery business reaches record high — Revenue from lottery sales has reached 92% of the year's target.

Specifically, for the first 10 months of the year, state budget revenue is estimated at 1,398.7 trillion VND, equivalent to 86.3% of the projected figure, a decrease of 9.2% compared to the same period in 2022.

Of that total, central government revenue is estimated to reach approximately 88.9% of the projected amount, while local government revenue is estimated to reach approximately 83.3% of the projected amount.

Domestic revenue in the past 10 months is estimated at VND 1,157.7 trillion, equivalent to 86.8% of the projected figure, a decrease of 5.9% compared to the same period in 2022. Revenue from crude oil is estimated at approximately VND 51,400 billion, equivalent to 122.3% of the projected figure, a decrease of 19.8% compared to the same period in 2022.

Revenue from import and export activities is estimated at VND 188,800 billion, equivalent to 79% of the projected figure, a decrease of 21.9% compared to the same period in 2022.

In terms of total state budget revenue, direct revenue from the three production and business sectors (accounting for 53.3% of the total domestic revenue forecast) is estimated to reach 85.5% of the forecast, a decrease of 2.9% compared to the same period last year.

Excluding corporate income tax (which accounts for nearly 45.2% of total revenue from the production and business sector, performing well compared to the forecast due to businesses having made provisional payments for 5 out of 5 periods as required), the revenue from these three sectors is only 92.7% of the same period last year .

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