Vietnam’s government revenues up 12% in first four months

Friday, 2018-05-11 15:32:31
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NDO - Government revenues in the first four months of 2018 were estimated at VND446.4 trillion (US$19.6 billion), up 12% over the same period last year, the Ministry of Finance (MOF) has reported.

The figure is equivalent to 34% of the estimate for the whole year.

The MOF stated that domestic revenues rose 14.5%, to VND368.1 trillion (US$16.2 billion), while revenues from crude oil were estimated at VND19.1 trillion (US$840.4 million), up 27% annually and equivalent to 53% of the yearly target.

Customs duty revenues were estimated at VND90 trillion (US$3.96 billion), down 3% over the same period of 2017.

Meanwhile, government expenditure in the first four months of 2018 was VND410 trillion (US$18 billion), up 4.6% from the previous year and equivalent to 26.9% of the 2018 target.

The breakdown shows that recurrent spending rose 5.4% to VND301.5 trillion (US$13.3 billion), while spending on development investment was estimated at VND65 trillion (US$2.9 billion), down 5.2% from the same period last year.

Spending on debt servicing rose 13.7% to VND41.75 trillion (US$1.8 billion), the MOF stated.