State budget revenue meets target

State budget revenue met the target set by the National Assembly although it has faced many challenges and risks, according to figures released at a conference on Wednesday.

According to the General Department of Taxation, total domestic budget revenue in 2016 reached nearly 40 billion USD, exceeding the 9.3% target. Contributing significantly to this impressive result was the contribution of thousands of businesses which have fulfilled their tax obligations. This is also the result of the policies to remove difficulties for firms.

In 2016, total state budget revenue exceeded the initial target by 7.8%. However, the excess mostly comes from local budget revenue.

The central budget revenue was at risk of closing at 1.4 billion USD less than targeted. However, it met the National Assembly's target at the last minute. This was due to the strong administrative reforms to support 110,000 businesses.

Meeting the National Assembly's target of state budget revenue for 2016 will contribute to helping secure the spending for investment and development, social welfare programmes and defence.