9:23:38 AM | 23/10/2008
Minister of Finance Vu Van Ninh has told Vietnamese lawmakers that the government of Vietnam is targeting to slash state budget deficit to VND87.3 trillion (US$5.29 billion) next year, or 4.8 per cent of the country’s GDP value, the ministry-run Thoi Bao Tai Chinh newspaper said.
The government will issue domestic debts of VND71.3 trillion (US$4.321 billion) and foreign debts of VND16 trillion, the newspaper said.
Between Jan and Sept, the government had cut by VND700 billion of state budget expenditures to reduce Jan-Sept coffer deficit to 4.8 per cent of GDP value, but still VND9.7 trillion higher from a year ago.
Jan-Sept coffer deficit was VND76 trillion, including VND35.4 trillion compensated for petroleum product prices as crude oil prices at the global market soared US$41/barrel compared with estimated prices.
Many asked the government to clarify VND32 trillion compensated for petroleum trading companies in the first months this year because world oil prices are on downtrend and retail prices are rather stable, the paper said.
According to the government’s report, the state budget income is estimated at VND399 trillion (US$24.181 billion) this year. (Vietnam Financial Times)
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