State budget revenue in the first quarter of 2014 has been estimated at VND195 trillion (US$9.2 billion)—up 15.9% over the first quarter of last year, the Ministry of Finance has reported.
State budget revenue in the first quarter of 2014 has been estimated at VND195 trillion (US$9.2 billion)—up 15.9% over the first quarter of last year, the Ministry of Finance has reported.
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| Q1 State budget revenue was 15.9% higher than Q1 of 2013. |
Of the total, domestic collection contributed VND133 trillion, which equals 24.8% of the annual estimate and is the highest first-quarter revenue recorded in the past three years. First-quarter budget collection in 2013 accounted for just 21% of the year's estimated total, and Q1 figures in 2012 made up 22% of that year’s estimate.
The Q1 revenue from import and export activities contributed VND52 trillion to the State budget, a year-on-year increase of 28.8%. After deducting VND18 trillion in VAT refunds, the revenue from import and export activities is estimated at VND34.5 trillion, or 22.4% of the year's estimate.
Meanwhile, the Finance Ministry reported first-quarter budget spending of VND232 trillion (US$10.9 billion), a figure that is VND37 trillion (US$1.7 billion) over the quarterly budget and equates to 16.5% of the overspending estimate for the whole year.
In order to raise capital for the state budget, Government bonds worth VND83 trillion (US$3.9 billion) were issued in the first quarter of the year, equivalent to 35.8% of the year's target.
(Source:Nhan Dan)
