Vietnam’s government revenues up 13.2% in first half of 2019

Friday, 2019-07-12 16:11:56
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Government revenues in the first half of 2019 were up 13.2% year on year. (Photo: VnEconomy)
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NDO - Government revenues in the first six months of 2019 were estimated at VND745.4 trillion (US$32 billion), equivalent to 52.8% of the target and up 13.2% compared with the same period of last year.

The figures were announced by the Ministry of Finance at a conference on July 12, which reviewed Vietnam’s financial performance in the first half of 2019.

Deputy Minister Do Hoang Anh Tuan said domestic revenues increased 13.6%, revenues from crude oil edged up by 0.7% while revenues from export-import activities rose by 13.7%.

Tuan added that revenues of both central and local governments saw decent figures with 50 out of 63 posting revenues that are equivalent to more than half of the full-year targets.

During the same period, government spending climbed 2.6% to VND666.1 trillion (US$28.6 billion), equivalent to 40.8% of the yearly estimate.

The deputy finance minister informed that the ministry issued VND112.1 trillion worth of bonds in the first half of 2019 to cover spending deficits and pay debts.

He told the conference that in the latter half of the year, the finance ministry will continue to simplify administrative procedures in order to facilitate business operations.