State budget revenue increases by 16 per cent in 11 months

A tax official advises a citizen in Yên Bái Province on their tãx liabilitiy. — VNA/VNS Photo Phạm Hậu

HÀ NỘI - The Ministry of Finance announced on Wednesday that the total State budget revenue for the last 11 months reached VNĐ1.8 quadrillion (US$71.2 billion), exceeding the forecast by 6.3 per cent and marking a 16.1 per cent increase from last year.

Of this, central government revenue is estimated to reach around 110.1 per cent of the forecast, while local government about 102.5 per cent.

Government spending across the last 11 months is estimated to reach 73.6 per cent of the forecast, reflecting a 4.7 per cent increase compared to the same period in 2023.

The ministry also reported that the central government had used VNĐ24.7 trillion ($972.5 million) from the 2024 reserve fund to supplement funding for national defence, security tasks and to support local areas for unanticipated tasks, including disease control and production recovery after natural disasters.

Specifically following the Prime Minister’s decision, the ministry allocated nearly 17,000 tonnes of national rice reserves to support districts to overcome the aftermaths of natural disasters.

Budget balance is being ensured at both the national and local levels, Minister of Finance Nguyễn Văn Thắng said.

With a limited time until the end of the year, he urged agencies and units within the sector to focus on achieving the highest possible revenues and meeting the targets for issuance of Government bonds.