Vietnam State Budget Deficit Estimated at VND55.6B By Mid-Sept
Vietnam’s state budget deficit was estimated at VND55.6 billion by mid-September, including VND5.4 billion last month, according to the Ministry of Planning and Investment (MPI).
State budget collection was VND15.1 trillion in the first half of Sept, bringing the total figure to VND274.4 trillion during the period, decreasing by 12.1% from a year earlier and fulfilling 70.4% of the whole-year estimate, the ministry said.
Tax concessions by the local government to spur the economy and sharp crude oil price decreases on the global market have caused huge loss to the country’s state budget.
Meanwhile, state budget spending narrowed to VND20.5 trillion in September from VND44.82 trillion in Aug, and state budget deficit during the month was VND13.98 trillion.
Earlier, the ministry reported that state budget collection gained VND30.840 trillion in August and totaled VND259.270 trillion in Jan-Aug, reducing by 10% from the same period of 2008.
Total actualized capital of the state budget in August was estimated at VND44.820 trillion, VND309.64 trillion in the first eight months. (People, VnMedia, CafeF)
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