The amount is equivalent to 16.1% of the whole year’s estimates, according to the Ministry of Finance. In the reviewed period, domestic collection reached VND179 trillion, up 12.9% annually, accounting for 16.3% of the year’s estimates.
In the first two months of the year, 45 out of the 63 provinces and cities nationwide saw collections for the state budget reach the estimated total of 16%, while 12 localities saw fewer contributions than predicted.
The ministry stated that budget revenues from crude oil exports, estimated at roughly VND9.1 trillion, met 25.4% of the estimates, up 28% over the same period in 2017.
Import-export activities contributed VND41.7 trillion to the State budget, equalling 14.73% of the projected revenues.
According to the ministry, total budget spending was VND177.7 trillion, up 2% annually.
Regular expenditures in the two months were estimated at VND147.8 trillion, up 7.4% over the same period last year.
