HA NOI (VNS) — State budget revenue in the first two months of this year was estimated at over VND129.8 trillion (US$6.18 billion), according to the Ministry of Finance.
The sum accounted for 16.6 per cent of the whole year's budget estimates and represented a year-on-year rise of 12.9 per cent.
Of the amount, VND93 trillion ($4.4 billion) came from domestic taxes, equivalent to 17.3 per cent of the year's estimates. The outcome was attributed to bustling economic activities in the last months of 2013 and the first months of 2014.
The 11.6 per cent increase in total retail sales and consumption service revenues greatly contributed to the two-month budget collection, plus VND1.8 trillion ($85.7 million) from dividends of State capital at State-owned companies and VND2.1 trillion from small-and medium-sized enterprises' corporate income tax.
VND32 trillion ($1.5 billion) was collected from import-export activities, or 14.3 per cent of the estimates.
The ministry also revealed an estimated budget spend of VND150 trillion ($7.1 billion) during the period, accounting for 15 per cent of the forecast and up 4.3 per cent year-on-year.
To cover a budget overspend of VND20.2 trillion, the management agencies issued more than VND51 trillion ($2.4 billion) worth of Government bonds, fulfilling 17.5 per cent of the yearly plan. — VNS