Budgetary Collection and Expenditure Surpass Estimation

Deputy Finance Minister Tran Van Ta said at an entire financial sector meeting recently held in Hanoi that the financial collection and expenditure of the State Budget have exceeded the estimation set for 2006.

 

According to the Ministry of Finance, the State Budget collection is estimated at VND261,100 billion (US$16.31 million) in 2006, surpassing 9.8 per cent of the estimation set for this year (or VND23,200 billion) and increasing 20.3 per cent compared with the amount it gathered in 2005. The budgetary collection is equal to 26.8 per cent of the GDP. Nearly all provinces and cities reached or exceeded the targets.

 

According to the Ministry of Finance, the State Budget expects to collect VND281,900 billion (US$17.61 billion) in 2007, up 8.3 per cent compared with the actual collection in 2006 while planning to spend VND357,400 billion (US$22.33 billion), up 20.5 per cent compared with the forecast for 2006.