Of the sum, domestic revenue was estimated at 987.5 trillion VND, equivalent to 59.2% of the estimate and up 27.6% year-on-year, the ministry reported on June 10 at a meeting to review activities in May and implement tasks for June.

Illustrative image.

Director of the Taxation Department Mai Xuan Thanh said that domestic tax revenue from goods and services in the first five months increased by 18.3% over the same period last year. This is a fairly high increase, reflecting the positive recovery of production and business activities.

Notably, revenue from land and land use fees increased by 247% year-on-year while revenue from oil and gas reached 87.9% of the plan, making an important contribution to the central budget.

Revenue from business households increased by 26%, while revenue from e-commerce activities increased by 55%. The large revenues reflected efforts in expanding the tax base and effective tax management, Thanh said.

Nguyen Van Tho, Director of the Customs Department, said that in the first months of the year, the customs sector proactively improved legal institutions, supported businesses, ensured budget revenue and promoted digital transformation, while drastically implementing measures to prevent and control smuggling and trade frauds.

To facilitate trade, the customs sector has increased support for businesses, especially in exporting agricultural products to China, with measures such as working overtime and clearing customs at night, helping export turnover increase by 300-500 million USD.

Regarding state budget expenditure, the accumulated expenditure for the first five months was estimated at 833.8 trillion VND, equivalent to 32.7% of the yearly estimate, up 27.7% over the same period in 2024.

Of that, development investment expenditure was estimated at about 199.3 trillion VND, equivalent to 25.2% of the estimate approved by the National Assembly, with the disbursement rate reaching 24.1% of the plan assigned by the Prime Minister, increasing in both value and rate compared to the same period last year.

As of May 31, the total disbursed public investment capital reached 209.7 trillion VND, equal to 21.9% of the total yearly plan.

According to the MoF, the consumer price index (CPI) in the first five months increased by 3.21% over the same period, and core inflation increased by 3.1%.

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