Tag: state budget

Collections from imports and exports this year estimated at VND13.5 trillion ($567 million).

Annual figure equal to 127.8 per cent of estimate and up 15 per cent year-on-year.

Central city’s trade turnover almost VND5.3 trillion ($222 million) last year.

Revenue estimated at $68.5 billion in 2023, up 0.4 per cent from 2022.

The city had been assigned to collect over VND386.6 trillion ($16 billion) in State budget revenue in 2022.

Provincial budget revenue estimated at $1.4 billion this year, or 135.6 per cent of the estimate and up 40.1 per cent against 2021.

City ranks third nationwide in terms of collections.

The government has issued measures for implementing the Planning for Inland Waterway Infrastructure in the 2021-2030 Period and Vision to 2050, which identifies 17 investment projects using State budget capital and a series of projects upgrading and expanding passenger and cargo ports using enterprise capital. A breakthrough mechanism on access to foreign preferential loans by the government will also be applied for infrastructure projects that effectively connect inland waterway traffic with seaports.

The sixth plenum of the 13th Party Central Committee opened in Hanoi on October 3 and is expected to last for a week. Many key issues will be discussed and decided on, such as Vietnam’s socio-economic development plan and State budget estimates for 2023, the State finance budget plan from 2023 to 2025, and the national master plan from 2021 to 2030 and vision to 2050.

To promote the interest rate support program from the State budget for loans to businesses, cooperatives, and business households, which has now been implemented for three months, the State Bank of Vietnam has required that commercial banks review efforts and notify eligible customers.

Disbursed investment in August from the State budget managed by Hanoi reached VND4.188 trillion ($178 million), up 2.2-fold year-on-year. Investors and construction units have focused their resources on speeding up construction progress at key projects to boost disbursement and create a driver for the capital’s development.

Total State budget revenue reached more than VND1.2 quadrillion ($51.3 billion) in the first eight months of this year, up 19.4 per cent year-on-year and representing 85.6 per cent of the annual estimate. State budget expenditure, meanwhile, stood at VND956.5 trillion ($40.89 billion), for a surplus of nearly VND252 trillion ($10.77 billion); the highest for many months.

The Ministry of Transport has approved a project to upgrade the section of the Hanoi - Ho Chi Minh City railway line from the southern city to Nha Trang, with total investment of nearly VND1.1 trillion ($47 million) from medium-term State budget capital in the 2021-2015 period.

Deputy Prime Minister Le Minh Khai has directed the Ministry of Finance to continue calculating plans to cut excise taxes and VAT on gasoline, carefully assessing the impact on the State budget and making preparations if feasible.

According to the Ministry of Finance, total State budget revenue in June was estimated at VND114.3 trillion ($4.8 billion). Revenue in the first half reached about VND930 trillion ($39 billion), for 66.1 per cent of the annual estimate and increasing 18.8 per cent year-on-year.

On June 16, the National Assembly (NA) approved the construction of the Khanh Hoa - Buon Ma Thuot Expressway, first phase, connecting south-central Khanh Hoa and the central highlands’ Dak Lak provinces, stretching 117 km in length and with total investment of nearly VND22 trillion ($946 million) from the State budget. Project implementation is subject to special mechanisms, and completion is expected in 2027.

State budget revenue reached nearly VND184 trillion ($8.16 billion) in January while expenditure was almost VND114 trillion ($5.03 billion). It was therefore in surplus by more than VND70 trillion ($3.1 billion).

The State budget surplus is continually decreasing due to difficulties in revenue collection as more is being spent on the prevention and control of Covid-19. The surplus in the first eight months of the year was VND82 trillion ($3.6 billion), then VND58 trillion ($2.55 billion) in the first nine months and VND20 trillion ($879.13 million) in the first ten months.

The Ministry of Finance (MoF) is collecting comments on the Public Report on the State Budget Estimate in 2022, which is to be submitted to the National Assembly. Collections in 2022 are estimated at VND1.4 quadrillion ($61.54 billion), while there are various changes in allocations.

The Ministry of Finance (MoF) aims to increase total State budget expenditure by VND2.6 quadrillion ($114 billion) in the 2021-2025 period, while keeping the proportion of GDP at 28 per cent, as in the 2015-2020 period.