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).
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