Vietnam’s state budget revenue in the first nine months of the year is estimated at over 1.88 quadrillion VND (71.2 billion USD), equal to 96% of the annual target and up 27.9% year-on-year, according to the Ministry of Finance (MoF).

Vietnam’s state budget revenue in the first nine months of the year is estimated at over 71.2 billion USD.

Breaking down the figure, domestic revenue contributed 96.9% of the projection, import-export activities 98.8%, and crude oil 69.9%.

On the expenditure side, Government spending through September totalled more than 1.59 quadrillion VND, representing 61.7% of the annual budget allocation.

Of the total, investment spending reached 53.7% of projections, debt interest payments 68.4%, and recurrent expenditures 68.1%.

The MoF said that budget disbursement met demand for development, defence, security, state management, and debt servicing.

It also ensured the payment of salaries, pensions, and social benefits, along with financial support during the organisational restructuring scheme. In addition, allocations were also made to mark the 80th anniversary of the August Revolution and National Day.

As much as 25.9 trillion VND from reserves was disbursed during the nine-month span, including 19.8 trillion VND for ministries and agencies to address urgent national tasks, and 6.1 trillion VND to assist localities in administrative restructuring and restoration of production in disaster-hit and epidemic-affected areas.

In the remaining months of the year, the ministry will continue to strengthen budget revenue management, expand the tax base, and ensure timely and accurate collection of all arising revenues.

Efforts will be stepped up to combat tax evasion, manage revenue from e-commerce, and strictly enforce tax debt recovery.

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