Topic: State budget revenue

Collections reach $15.3 billion in first two months.

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

Vietnam had six localities posting budget revenue of VND50 trillion ($2.14 billion) or more last year. Thanh Hoa is about to join this group, as its budget revenue for 2022 is expected to come in at between VND50 trillion and VND55 trillion ($2.14 billion and $2.35 billion), exceeding the annual estimate by some 40 per cent.

The custom sector’s contribution to State budget revenue in the first seven months of this year totaled more than VND260 trillion ($11.16 billion), a 12.7 per cent increase year-on-year and representing 74.2 per cent of the annual estimate.

The Ho Chi Minh City Statistics Office has reported that the city’s Index of Industrial Production (IIP) increased 0.9 per cent in July compared to June and 53.2 per cent year-on-year. Total budget revenue in the city in the first seven months of 2022 represented 73.2 per cent of the annual estimate and increased 20 per cent year-on-year.

State budget revenue reached 54.9 per cent of the annual estimate in the first five months of 2022, and the budget is in surplus to the tune of VND217.3 trillion ($9.31 billion). According to the General Statistics Office, revenue from trade activities and crude oil, and in the two economic locomotives of Hanoi and Ho Chi Minh City, have increased impressively. The return of significant numbers of businesses post-pandemic is also among the factors helping budget revenue post solid results.