Although several localities were affected by the recurrence of the COVID-19 pandemic after the Lunar New Year, production and business activities have essentially returned to normal, making positive contributions to budget revenue in the first quarter of 2021, the Finance Ministry stated.
Of the total, domestic revenue reached 30% of the estimate, revenue from crude oil met 34.6% and revenue from import and export activities reached 30.8%.
Eight out of 12 items subjected to budget collectionrecorded revenue exceeding 25% of the estimate,including revenue from State-owned enterprises, revenue from foreign-invested enterprises, revenue from non-state economic sector, revenue from houses and land, and others.
The Finance Ministry said that 57 out of 63 provinces and cities have budget revenue reaching the estimated progress (over 25%) while 40 provinces and cities posted budget revenue higher than the same period last year, demonstrating the recovery of the economy and effectiveness of policies regarding pandemic prevention and control.
In the meantime, budget spending in the first quarter of this year was reported at VND341.9 trillion, equivalent to 20.3% of the estimate and up 0.2% over the same period last year.
The Finance Ministry said that budget collection and spending in the first quarter of this year was implemented according to the estimate, meeting the needs of socio-economic development, national defence and security, the payment of public debts, social allowances, and others.
