Vietnam’s state budget collection up 18.8% in 1st half of 2022

Vietnam posted a budget collection of 932.9 trillion VND ($39 billion) in the first half of 2022, up 18.8 per cent year on year, the Ministry of Finance said on Tuesday.

Domestic revenue over the period rose 15.8 per cent from the same period last year, while the revenue from import and export activities increased by 25.5 per cent, reports Xinhua news agency.

From January to June, Vietnam’s budget spending stood at 713 trillion VND, up 4.5 per cent year on year.

Regular spending stood at 509.2 trillion VND, up 4.1 per cent and accounting for the largest proportion of the country’s total expenditure.

In 2021, Vietnam’s state budget deficit was below 4 per cent of its gross domestic product (GDP), despite the spending to fight the coronavirus pandemic.

The country’s state budget deficit for 2022 is estimated at 4 per cent of the GDP, according to a report on state budget estimates for 2022 by the Ministry of Finance.




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