Revenues from local budgets might increase by about 30 trillion dong this year, and the state budget revenues may be 50 trillion dong, much higher than planned target of 462.5 trillion dong, director general of Department for National Economic Issues Bui Ha said.
Ha said on account of this, the deficit this year may be less than six percent of GDP.
Ha's forecast came after the statistics on budget revenue and expenditure to August 15 was scrutinised. According to that, index of state budget revenue is higher than the same periods of the previous years. In particular, state budget revenue till August 15 is estimated at 313.5 trillion dong, equivalent to 67.9 percent of the 2010's plan.
Notably, in the report, revenue growth from imports and exports is high, reaching nearly 76 trillion dong, equivalent to 79.6 percent. Exports in the first eight months of the year are estimated at $44.5 billion, up by 19.7 percent compared to the same period of last year, whereas imports are expected to reach $52.7 billion, up by 24.4 percent over the same period of last year.
In contrast, revenue from crude oil reached 38.6 trillion dong, equivalent to just 52.8 percent of the yearly target, the lowest rate among the revenue tasks to date. Till August, crude oil exports only reached 5.5 million tonnes, with $3.3 billion in turnover, down by 44.2 percent in volume and 20.5 percent in value.
For the remaining tasks, domestic revenues reached nearly 195.5 trillion dong, equivalent to 66.4 percent of the yearly estimate. Of that, revenue from state-owned sector reached 67.7 trillion dong, equivalent to 58 percent the yearly estimate; revenue from foreign investment sector was 38.9 trillion dong, equivalent to 62 percent; from income tax for high income earners was 13.3 trillion dong, equivalent to 72 percent; from fuel charges was 6.5 trillion dong, equivalent to 66.2 percent; from fees and charges was 3.9 trillion dong, equivalent to 56.8 percent of the 2010's estimate.
According to Ministry of Planning and Investment, the state budget expenditures of the same period reached 353.4 trillion dong, equivalent to 60.7 percent of the yearly plan. Of that, spending on development investment was 78.9 trillion dong, equivalent to 62.9 percent of the plan (spending on basic construction investment alone reached 74.9 trillion dong, equivalent to 62.4 percent); social and economic, and national security and defence spending reached 228 trillion dong, equivalent to 61.5 percent of the estimate; spending on debt and aids repayment was nearly 46.3 trillion dong, equivalent to 66 percent.
With such results, budget deficit to August 15 was 39.9 trillion dong, equivalent to 12.7 percent of the total budget revenues of the same period, and equivalent to 33.3 percent of the 2010's plan of 119.7 trillion dong.
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