The State budget deficit for this year is estimated at VND372.9 trillion (US$16.31 billion), equivalent to 4 per cent of GDP. — Photo vietnamplus.vn

The State budget collection in 2022 is expected to reach over VND1.41 quadrillion (US$61.7 billion), according to a report on State budget estimates for 2022 made public by the Ministry of Finance.

Meanwhile, expenditure is estimated at about VND1.78 quadrillion, up 4.5 per cent compared to 2021.

The “Budget Report for Citizens-State Budget Estimates for 2022” provides the public with essential information on macro-economic indices in 2022.

Accordingly, revenues of the central budget are estimated to account for 52.36 per cent of the total budget collection, equivalent to VND739.13 trillion, while 47.64 per cent, or VND627.57 trillion, will be collected for local budget.

The State budget deficit for the year is estimated at VND372.9 trillion ($16.31 billion), equivalent to 4 per cent of the GDP.

Notably, according to the report, in 2022, two more localities are expected to contribute to the central budget, raising the number of such localities to 18.

Other macro-economic indices for 2022 include GDP growth of 6 to 6.5 per cent, an average consumer price index rise of about 4 per cent, total export revenue expansion of about 5.4 per cent, and total social development investment accounting for about 32 to 34 per cent of GDP. — VNS