Vietnam’s government revenue up 1.8% in first quarter

Friday, 2020-04-17 11:40:15
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Government revenue in the first quarter is equivalent to 25.9% of the full-year target.
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NDO - Vietnamese government revenue in the first quarter of 2020 was estimated at VND391 trillion (US$16.664 billion), up 1.8% over the same period of 2019 and equivalent to 25.9% of the annual target.

Domestic revenue was estimated at VND324.7 trillion (US$13.836 billion), up 3.6%.

Revenue from crude oil was estimated at VND14.6 trillion (US$622.2 million), despite prices recently falling to US$25-27 per barrel, due to delays in payment. The average price for Vietnamese oil has been US$65 per barrel since the start of the year.

Revenue from export-import activities was estimated at VND77 trillion (US$3.279 billion), down 8.8% from the same quarter of 2019.

Government spending during the January-March period rose 8.7% to VND343.1 trillion (US$14.6 billion), with regular spending accounting for VND246.6 (US$10.5 billion), up 4% year-on-year.

Expenditure on investment development was estimated at VND61.6 trillion (US$2.6 billion) while spending on servicing debt totalled VND33.8 trillion (US$1.4 billion).