State budget overspending expected to fall to 5.95pct of GDP in 2010

State budget overspending in 2010 is estimated at 5.95 percent of GDP, 0.25 percent lower from the approved plan, Ministry of Planning and Investment said a report sent to the government on October 2.

Previously, the state budget overspending in 2010 approved by National Assembly was at 119.7 trillion dong, equalling to 6.2 percent of GDP.

According to the report, the total tax collection in Jan-August reached 342.5 trillion dong, or 74.2 percent against the estimate and the figure was estimated to reach 520.1 trillion dong for the whole year, up 12.7 percent over the year’s estimate (by 58.6 trillion dong).

Also in Jan-August, total state budget spending was 382.8 trillion dong or 65.8 percent of the year’s estimate and the figure was estimated at 637.2 trillion dong for the whole year, rising 9.4 percent compared to the year’s estimate.

 

Category: Finance