Total State budget collection in the first eight months of this year was estimated at VND762.8 trillion (US$33.4 billion), an increase of 12.8 per cent over the same period last year.

The amount is equivalent to 63 per cent of the whole year’s estimates, according to the Ministry of Finance. In the reviewed period, domestic collection reached VND603.6 trillion, up 10.7 per cent year-on-year, accounting for 61 per cent of the year’s estimates.

The ministry said budget revenues from crude oil exports, estimated at roughly VND29.97 trillion, met 78.3 per cent of estimates, up 11.3 per cent over the same period in 2016.

Import-export activities contributed VND190.8 trillion to the State budget, an increase of 9.5 year-on-year and equaling 66.9 per cent of projected revenues.

According to the ministry, total budget spending was VND793.5 trillion, up 7.8 per cent year-on-year, completing 57.1 per cent of the yearly target. Of the estimate, budget investment for development was VND137 trillion.

Regular expenditures in eight months were estimated at VND585 trillion, equaling 65 per cent of the year’s estimate, up 7.4 per cent over the same period last year.

Debt payment and interest expenses during the period totaled VND68 trillion, meeting 68.9 per cent of annual target and increasing by 14.6 per cent year-on-year. — VNS