Vietnam’s state budget deficit estimated at 82tr dong in Jan-Jul: MoF

In the first seven months of this year, the state budget deficit has been estimated at 82.26 trillion dong, or 58.7 percent of the year’s estimate, Ministry of Finance (MoF) reported at the recent meeting.

Particularly, the total state budget revenues in July are estimated at 49.26 trillion dong, rising about 1.96 trillion dong against the established figure in June, lifting the total figure in Jan-July to 393.5 trillion dong, or 53.1 percent of the year’s estimate, down 2.8 percent over the same period last year.

Meanwhile, the total state budget spending in July was estimated at 81 trillion dong and the accumulated figure in Jan-July was estimated at 498.16 trillion dong, or 55.2 percent of the year’s estimate, rising 15 percent over the same period last year. Till the end of July, the investment capital disbursement from the state budget was estimated at about 50 percent of the year’s plan and capital disbursement from government-backed bond was estimated at 48.6 percent of the year’s plan.

Earlier, according to a report from the General Statistical Office (GSO), the accumulated state budget deficit till July 15 was 91.4 trillion dong, or 65 percent of the year’s estimate approved by the National Assembly (140.2 trillion dong).

Regarding capital mobilisation for the state budget, till July 25, 2012, about 67.482 trillion dong worth of government-backed bonds have been issued (or 95.8 percent of 2011′s actualised figure and 56.2 percent of this year’s target) to raise capital for state budget expenditures.

Since the end of May so far, G-bond issuances have faced more difficulties, the number of participants in tenders decreased and the proceeds from G-backed bond tenders also declined strongly over the first months of this year (of which, the raised volume in June was 2.771 trillion dong and the raised volume in July was 4.762 trillion dong).

According to the MoF’s report, in Jan-Jul, the State Treasury has detected more than 31,300 expenditures from 14,200 agencies that have not been executed according to the procedures and regulations and did not pay for about 371 billion dong worth of wrong doings.

 

Category: Economy