Government revenues reach VND381 trillion in first quarter

Friday, 2019-04-05 15:27:54
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Domestic revenues hit VND315.4 trillion, up 13.8% year on year.
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NDO - Revenue collected by the Vietnamese government in the first quarter of 2019 reached VND381 trillion (US$16.4 billion), up 13.2% over the same period of last year.

The figures were announced by the Ministry of Finance at a news conference on April 5.

Domestic revenues hit VND315.4 trillion, up 13.8% year-on-year and equivalent to 26.9% of the full-year target.

The finance ministry stated that 49 out of 63 provinces and centrally-governed cities reported revenues of at least 24% of their respective full-year targets.

Revenues from crude oil dropped 14.3% against the same quarter of 2018, to VND12.28 trillion (US$528 million), equivalent to 27.5% of the yearly estimate.

According to the latest data, revenues from export-import activities were estimated at VND80.8 trillion (US$3.47 billion), a year-on-year increase of 17.6%.

In contrast, government spending in the January-March period was estimated at VND315.6 trillion (US$13.57 billion), up 7.6% over the same period of 2018.

At VND237.2 trillion (US$10.2 billion) recurrent spending accounted for more than three quarters of the total expenditure.