Two-month state budget collection grows 10.4% year on year
An estimated 399.4 trillion VND (nearly 16.18 billion USD) was collected for the state budget in the first two months of 2024, equivalent to 23.5% of the year’s target and up 10.4% from a year earlier, the Ministry of Finance reported on March 6.
Hanoi (VNA) – An estimated 399.4 trillion VND (nearly 16.18 billion USD) wasc𓆉ollected for the state budget in the first two months of 2024, equivalent to 23.5% of the year’s target and up 10.4% from a year earlier, theMinistry of Finance reported on March 6.
Theministry said that domestic revenue reached 24.6% of the targetand increased 14.6% compared to that of the same period last year partlybecause economic activities in the first months of the year still maintainedpositive growth momentum from the end of the previous year and good consumption during the Lunar New Year holiday. Theministry reported that 55 out of the country's 63 provinces and centrally-runcities recorded domestic revenue topping 16% of the estimate. Fifty-three localities saw an increase in collection compared tothe January-February period in 2023 while 10 reported adecline in domestic revenue.
Meanwhile,state budget spending in the first two months of this year was estimated at 270.7 trillion VND, equal to 12.3% of the estimate, and up 7.7% year-on-year. Of the total, nearly 60 trillion VND was for development investment.
Inthe period, to continue supporting businesses and peop🀅leto overcome difficulties, the Government exempted or reduced taxes, fees, andcharges worth about 12.1 trillion VND./.
State budget revenue from exports and imports in January reached 30.64 trillion VND (1.25 billion VND), equivalent to 8.2% of the estimate, and up 13.2% year-on-year, the General Department of Vietnam Customs (GDVC) reported on February 6.
Prime Minister Pham Minh Chinh has requested State-owned enterprises (SOEs) to reform governance, improve production and business efficiency, and strongly promote development investment.
To boost public investment disbursement in 2024, ministries, sectors, and localities need to foresee problems that may occur during the implementation of projects to take timely solutions, said an official of the Ministry of Finance (MoF).
The total State budget revenue in the first two months of 2024 reached over 361.67 trillion VND (nearly 14.67 billion USD), equivalent to 24.3% of the projection for the whole year, and 112.9% compared to the figure recorded in the same period last year, the General Department of Taxation reported on March 1.
The State budget revenue from export-import activities in the first two months of this year reached 56.42 trillion VND (2.35 billion USD), or 15% of the estimate, down 2.4% year on year, reported the General Department of Customs on March 4.
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Illustrative photo (Photo: VNA) 
