VGP – As of mid July, State budget collection was estimated at VND 363 trillion while budget spending reached VND 454.4 trillion, according to the General Statistics Office (GSO).
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Of the collection figure, domestic tax amounted to VND 234.1 trillion.
The SOEs contributed VND 79.4 trillion to the State budget; foreign-invested enterprises (excluding crude oil), VND 42 trillion; commercial-trade and service, VND 48.4 trillion; and environmental protection fees VND 6.7 trillion.
Of the spending volume, the country put aside VND 89.9 trillion for development investment; VND 308.2 trillion for socio-economic development, national defense, security and State management (including salary reform); and debt payment and aid VND 56.3 trillion.
Last year, Vietnam’s budget overspending was equivalent to 4.9% of the gross domestic product (GDP) compared to 5.8% in 2010.
The Ministry of Finance estimated that this year’s budget overspending would amount to VND 140.2 trillion, up 25% against 2011, and accounting for 4,8% of the GDP.
By Khanh Phuong