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State budget collection estimated at 276 trillion VND in January-February

by VNA03 March 2022 Last updated at 16:00 PM

Budget Collection from crude oil reached 8.06 trillion VND in the first two months. (Source: VNA)
Budget Collection from crude oil reached 8.06 trillion VND in the first two months. (Source: VNA)

State budget collection was estimated to exceed 276.66 trillion VND (12.11 billion USD) in the first two months, up 7.7 percent from the same period last year, according to the General Department of Taxation.

Collection from crude oil reached 8.06 trillion VND, or 28.6 percent of the estimate, while the remainder came from domestic revenue, up 6.7 percent year-on-year.

The general department attributed the result to controlled epidemic situation across the country and recovering production and business activities.

The Government's support policies have proved effective, with the number of businesses resuming operations in January this year increasing by 195 percent annually. During the period, a number of major contributors to the State budget recorded good annual growth, including processing and manufacturing (up 2.8 percent); production of electrical equipment (11.5 percent); clothing production (11.4 percent); and metal ore mining (21.9 percent).

In addition, export turnover expanded by 1.6 percent, while increases were seen in the number of newly registered enterprises, investment capital from the State budget and foreign direct investment. Domestic consumption demand also soared in the last months of 2021 and in January 2022./.

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