7 months, budget deficit exceeds 105,000 billion VND

According to the General Statistics Office, since the beginning of the year, the budget has had a deficit of about 105,000 billion VND...

Environmental protection tax on gasoline increased by 3,000 VND, so since the beginning of the year, budget revenue has reached 21,900 billion VND, exceeding the estimate and much higher than the same period.

The General Statistics Office (Ministry of Planning and Investment) has just announced the budget revenue and expenditure situation for the first 7 months of 2016.

Specifically, the total state budget revenue from the beginning of the year to date is estimated at 500.8 trillion VND, equal to 49.4% of the year's estimate. Of which, domestic revenue reached 397.3 trillion VND, revenue from crude oil reached 21.6 trillion VND, and budget balance revenue from import-export activities reached 80.4 trillion VND.

In domestic revenue, some revenue items achieved quite well, such as land use fee revenue reaching 39.6 trillion VND, personal income tax 36.7 trillion VND, environmental protection tax 21.9 trillion VND, non-state industry, trade and service tax revenue reaching 79.3 trillion VND, revenue from foreign-invested enterprises (excluding crude oil) reaching 79.1 trillion VND.

Revenue from the state-owned enterprise sector alone reached 98.3 trillion VND.

Meanwhile, total state budget expenditure is estimated at 606.4 trillion VND. Of which, development investment expenditure is 89.4 trillion VND (of which basic construction investment expenditure is 88.1 trillion VND), expenditure on socio-economic development, national defense, security, administrative management including salary reform expenditure is 435.5 trillion VND, debt payment and aid expenditure is 81.6 trillion VND.

Thus, from the beginning of the year until now, the budget is estimated to have had a deficit of over 105,000 billion VND.

According to a report by the Central Institute for Economic Management (CIEM), Vietnam has a higher budget deficit than some countries in the region. In 2015, Vietnam's budget deficit was over 6% of GDP.

Meanwhile, CIEM cited IMF data in the World Economic Outlook (WEO) report saying that in 2015, Thailand's budget deficit was 1.2% of GDP, Indonesia's was 2.3% of GDP, the Philippines' was 0.12% of GDP and Cambodia's was 2% of GDP.

According to VnEconomy