H1 State budget collection up 16.3 percent y-o-y

State budget revenue hit 781 trillion VND (34 billion USD) in the first half of 2021, equal to 58.2 percent of the estimate and up 16.3 percent year-on-year, according to the Ministry of Finance.

As many as 60 of 63 localities nationwide ensured the domestic collection progress (reaching over 50 percent of the estimate). Of the total, 48 localities achieved over 55 percent of the estimate.

The ministry said the state budget collection during January-June is positive, with revenue from production and business activities surpassing 52 percent of the estimate and increasing by over 17 percent year-on-year.

However, if the COVID-19 pandemic is not put under control soon, it will have huge impact on economic activities and State budget collection in the following months, the ministry stressed.

Meanwhile, State budget spending was estimated at 694.4 trillion VND during January-June, equal to 41.2 percent of the estimate.

Disbursement in the period was equivalent to only 29.02 percent of the plan assigned by the Prime Minister.

In the context of ‘fighting the pandemic like fighting the enemy’, both central and local budgets are giving priority to allocating capital to pandemic prevention and control efforts and support for people hit hard by the pandemic. Accordingly, the state budget has spent 4.65 trillion VND on this fight in the first six months of this year, and 21.5 trillion VND since 2020./.

Source: Vietnam News Agency