As reported by the General Statistical Office (GSO), Vietnam’s total budget revenue from early this year till April 15, 2012 was estimated at 198.9 trillion dong, equalling to 26.9 percent of the year’s estimate.
Of which, the local collection reached 127.9 trillion dong, or 25.9 percent, collection from crude oil at 31 trillion dong, or 35.7 percent, collection from budget balance from export and import activities reached 38.6 trillion dong, or 25.1 percent of the year’s estimate.
Of the local collection, the collection from state-owned enterprises (SOEs) was equal to 30 percent of the year’s estimate, collection from foreign-invested firms (excluding crude oil) was equal to 23.2 percent of the year’s estimate, collection from taxes, trade and non-state services at 24.8 percent, personal income tax (PIT) at 28.2 percent, environment protection tax at 25.3 percent and other fees at 21.2 percent.
The total state budget spending from early this year as of middle of April 2012 was estimated at 234.2 trillion dong, or 25.9 percent of the year’s estimate.
Of which, the spending for development investments was 46.9 trillion dong, or 26 percent (spending on basic construction investment at 45.6 trillion dong, or 26.2 percent), expenditures for socio-economic development, defence, security and state management at 157.5 trillion dong, or 26.2 percent and spending on debts and aids repayments at 29.9 trillion dong, or 29.9 percent.
Thus, the state budget deficit as of April 15 was estimated at 35.3 trillion dong, or 25.2 percent of the plan approved by the National Assembly by late 2011 (140.2 trillion dong).
In 2012, the state budget deficit is expected at about 4.8 percent of gross domestic product (GSP).