Vietnam 2010 Fiscal Deficit Likely Below 6% of GDP
Vietnam’s state budget deficit in 2010 is likely to be less than 6% of the gross domestic product versus the National Assembly target of 6.2%.
Bui Ha, director of the National Economy Department under the Ministry of Planning and Investment, said that the increased budget revenues would help reduce the deficit.
The director said the country may surpass its full-year budget revenue target by VND50 trillion to VND512.5 trillion this year.
A report from the ministry showed that Vietnam’s state budget revenues were VND313.5 trillion between January and mid-Aug while the expenditures were higher at VND353.4 trillion, resulting in a deficit of VND39.9 trillion.
In the first half of this year, Vietnam’s state budget deficit expanded to VND30.65 trillion, equal to 3.58% of the country’s GDP.
Vietnam has been warned of high risks relating to economic restructuring such as high state budget deficit and unsustainable development of the property market. (VnEconomy)
Vietnamese
