Budget income from localities exceeded expectations by 15%, reaching 40 thousand billion VND or 1.8 billion USD. To the year´s end, it is expected to reach 70 thousand billion VND. The price of crude oil fell, causing a state budget loss of 110 million USD.
Budget revenue from commercial banks also decreased by 20% as banks have had to increase their provisions for loan losses. Meanwhile, state-owned companies also had to pay for bad debts and ineffective projects.
National GDP growth rate reached 6.21% compared to the target of 6.7%, affecting the spending and public debt ceiling. An excess in state budget revenue contributed to helping offset this threat.
