Seven-month overspending estimated at US$4.6 billion

Budget overspending reached an estimated VND100.7 trillion (US$4.6 billion) in the first seven months of this year, equal to 44.5% of the year’s budget estimates, the Ministry of Finance said on August 5.

Seven-month overspending estimated at US$4.6 billion

Total revenues in the first seven months were VND544 trillion or 59.8% of the year’s estimates, up 6.6% against the same period. Of which VND404 trillion came from domestic revenue and the rest from import-export activities.

In the period, the country spent VND645.3 trillion, or 56.3% of the year’s estimates, representing an 8.1% increase from last year.

To compensate for the over-expenditure, VND114.5 trillion worth of government bonds have been issued this year as of July 25.