As announced by the Ministry of Finance of Vietnam at the regular press conference on April 7, the state budget revenue in March was estimated at VND70.3 trillion.
Thus, the total revenue of the first quarter in 2015 reached VND226 trillion, reaching 24.8 percent of the year's estimate, up 10.3 percent over the same period in 2014.
In particular, domestic revenue in March was estimated at VND52.3 trillion, accumulated revenue in the first quarter reached VND173.19 trillion, 27.1 percent of the estimate, up 19.6 percent over the same period in 2014 (not including an increase of 18 percent of land use fees). Notably, state revenue from crude oil is falling due to plunging oil prices.
Specifically, revenues from crude oil in March was estimated at VND4.6 trillion, accumulated revenue in the first quarter reached VND16.63 trillion, equal to 17.9 percent of the estimate, down 35.9 percent from the same period last year 2014.
Regarding government expenditure, total expenditure in March was estimated at VND87.7 trillion; accumulated spending in the first quarter was estimated at VND263.3 trillion, 23 percent of the estimate, up 12.3 percent over the same period of 2014. Thus, the budget deficit in March was estimated at VND17.4 trillion, accumulated spending in the first quarter was estimated at VND37.3 trillion, 16.5 percent of the annual estimate.
To offset the deficit in the first quarter, the Ministry of Finance has raised nearly VND56 trillion in bonds for the state budget. However, that amount of money is still lower than expected due to a strong focus on raising 5-year bonds. Also in the first quarter, Vietnam signed 13 ODA loan agreements, preferential loans of over US$1.7 billion.
Answering questions from reporters about "State Budget in 2015 may lack VND30 trillion”, Mr Dao Xuan Tue, Deputy Director, Department of State Budget (MOF), said: So far, there is no official information on this issue, it can be made based on the revenue over the first quarter of this year. "The Finance Ministry regularly is updated and provides solutions to balance the budget revenue estimates that the National Assembly has allocated. We will re-check the above information," Mr Tue said.
Ms Vu Thi Mai, Deputy Finance Minister, also stated that during the year 2015, the State started implementing the Resolution of the Parliament, the Ministry of Finance shall raise 5-year bonds instead of short-term ones. The Ministry of Finance will promote and coordinate with agencies in the Ministry of Finance, and the ones related to the state budget. On the issue of equitisation, as planned in 2015, about 289 enterprises nationwide will be equitised; however, there are only 27 equitised during three first months of the year, reaching 10 percent of the yearly plan. Thus, from now until the end of the year, about 90 percent of SOEs have to implement equitisation in accordance with the roadmap approved by the Prime Minister.
H.T
Vietnamese
