The total state budget revenues in April were estimated at 61.62 trillion dong, lifting the total figures in the first four months of this year to 234.39 trillion dong, equalling to 31.7 percent of the year’s estimate and increasing 3.5 percent over the same period last year, according to Ministry of Finance (MoF)’s report.
Of which, local collection reached 152.81 trillion dong, or 30.9 percent of the year’s estimate and up 2.1 percent on year, thanks to the increase in crude oil price in the world market from December 2011 so far, the collection from crude oil has been always maintained at high level with an estimated figure in Jan-April at 36.23 trillion dong, or 41.6 percent of the year’s estimate and rising 15 percent on year.
The total state budget spending in April was estimated at 67.3 trillion dong, bringing the total figure in Jan-April to 264.067 trillion dong, of 29.2 percent of the year’s estimate and rising 7.1 percent from the same period last year.
The spending for development investment in April was estimated at 13.11 trillion dong and the accumulated figure in Jan-April was 51.46 trillion dong, of which, the spending to offset the state credit interest rate reached 31.3 percent of the year’s estimate and expenditure to add the national reserve reached 24.7 percent of the year’s estimate.
The actualised basic construction investment capital was low with an estimated figure at 49.6 trillion dong, or 28.5 percent of the year’s estimate and equalling to 97.3 percent over the same period last year and the disbursed capital for completion were estimated at about 14 percent of the year’s estimate.
Thus, the state budget deficit in the first four months of this year was about 29.67 trillion dong, or 18 percent of the year’s estimate and up nearly 5 percent over the same period last year.
In particular, according to MoF on state budget revenue, although still remaining low in comparison with the requirements on the progress of estimate, overall it was much better than in March (up by 4.91 trillion dong), up mainly thanks to the increase in domestic revenue (up 6.51 trillion dong), of which, direct revenues from production – business operations increased by about 5.4 trillion dong.
The fundamental cause is that April is the time for enterprises to focus on declaring and paying corporate income tax (CIT) of the first quarter 2012. In addition, the collection of land rent and land use also achieved better (up about 800 billion dong) because projects being implemented from previous years continued to pay according to schedule. Total revenue from crude oil was more stable than in March 2012.
However, the balance revenue from import and export activities decreased significantly (down by 1.3 trillion dong) due to low growth in import-export turnover in recent months and structural changes of imports, of which goods with high import tax rates decreased strongly over the same period last year.