July budget revenue up 21 percent

Vietnam State budget revenue rose by 21 percent year on year to over 51.5 trillion VND (roughly 2.53 billion USD) in July, reported the Ministry of Finance.

Domestic tax collection increased by 7 trillion VND compared to June, attributable to influxes of income taxes paid by enterprises for the full second quarter as July is set as the deadline. Extra tax payments and the State Bank’s second quarter income-spending difference contributed some 8 trillion VND (Roughly 392 million USD) to State budget revenue in July.

The issuance of Government bonds raised almost 47 trillion VND (Roughly 2.3 billion USD) from domestic resources by late July, to make up for State budget deficits and cover investment in infrastructure projects such as traffic facilities, irrigation, education and medical health. The proceeds have accounted for 55 percent of the full year target.

State budget spending in July is estimated at 58.63 trillion VND.

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