Budget collection rises 7.9% in five months

The State budget collection was estimated at VND380.76 trillion (US$17.51 billion) in the first five months of 2015, representing a year-on-year increase of 7.9% and equivalent to 41.8% of the year’s estimate.

State budget collection saw relatively strong growth in the first five months of 2015 compared to the same period last year.

According to the Ministry of Finance, about VND61.5 trillion (US$2.83 billion) was added to the State budget in May, VND42.4 trillion of which came from domestic sources.

Domestic collection reached roughly VND283.19 trillion (US$13.02 billion) in five months, up 16.3% over the same period last year, accounting for 44.3% of the year’s estimate.

Total budget spending in the January-May period was estimated at VND455.6 trillion (US$20.95 billion), equivalent to 39.7% of the year’s estimated figure, resulting in a budget deficit of VND74.8 trillion (US$3.44 billion).

(Source: nhandan.org.vn)