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Budget revenue surges

by VTV412 October 2016 Last updated at 08:42 AM

VTV.vn - Despite economic difficulties, state budget revenue in the first 9 months of this year exceeded 70% of the yearly target. However, expenditure and disbursement for development projects has remained low.

The report was released by the Ministry of Finance on Tuesday. While revenues from crude oil dropped by nearly 42% compared to the same period of 2015, total state budget revenues still reached over 30 billion USD, equal to 70.8% of the yearly target. The state budget deficit accounted for more than 150 trillion VND, much lower than expected. So far 250 trillion VND of government bonds have been issued, effectively contributed to state budget. The tax sector has also recovered over 31 trillion VND in outstanding taxes. Collecting tax arrears is an important source of budget revenue, with debt collecting proving a good source of income.

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