According to the State Budget Department, State revenue collection in the first seven months is estimated at 67.9% of current appropriation, increasing by 15.6% from the same period in 2020.

Balanced budget revenue from import-export activities is estimated
at 81.5% of current appropriation, rising 37.5%. Photo: Thu Hòa

Domestic revenue is estimated at 65.6% of current appropriation, increasing by 12.9%; revenue from crude oil is estimated at 94.9% of current appropriation, down by 5%; balanced budget revenue from import-export activities is estimated at 81.5% of current appropriation, rising 37.5%.

There are 10 of 12 revenues and domestic revenue groups have ensured the collection schedule (over 58%), including important revenues collected from three economic sectors, such as: revenue collected from the SOE sector hit 63.7% of current appropriation, up 17.9% over the same period in 2020; revenue collected from FDI firms reached 65.8%, up 15.6%; revenue collected from the non-State economic sector reached 68.8% of current appropriation, up 40.1%.

There are 59 provinces with domestic revenue exceeding 58% of current appropriation, of which 47 localities have collected more than 63% of the current appropriation; 53 localities have achieved higher revenue collection compared to the same period, some localities have revenue growth of more than 15%; four localities with low estimated collection progress are Hoa Binh (52.8%), Son La (57.9%), Da Nang (57%) and Tien Giang (56.5%).

Regarding State budget expenditure, it achieves 48% of current appropriation, of which the development investment expenditure reached 35.5%; interest payment reached 59.2%; recurrent expenditures reached 55.2% of the current appropriation.

Noth the central budget and the local budget have prioritized spending on Covid-19 infection prevention and control. The Government has spent VND 4.2 trillion from the reserve in 2021 to spend on pandemic prevention; localities have spent VND 0.76 trillion to support workers and employers facing difficulties due to the pandemic.

Overall, the State budget balance in seven months saw a surplus, in which the central budget is overspent; the local budget hit a surplus. The issuance of Government bonds was managed to effectively use the State budget while ensuring the source of offset for the central budget deficit and timely making payment of principal debts of the State budget that were nearly due. It issued VND 169.5 trillion of Government bonds, with average term of 12.67 years and average interest rate of 2.27% per year.