Nghe An: Budget revenue for 10 months is estimated to reach over 13,000 billion VND

According to the authorities' calculations, the numberbudget revenueThe estimated revenue of the province in the first 10 months of 2020 is 13,077.71 billion VND, reaching 85.9% of the estimate assigned by the Provincial People's Council for the whole year of 15,216 billion VND. The realized revenue increased by 3.2% over the same period in 2019.

Of which, domestic revenue is estimated at VND 12,162.21 billion, reaching 90.7% of the estimate and increasing by 7.2% over the same period. Excluding land use fees and lottery revenue, domestic revenue is estimated at VND 8,693.15 billion, reaching 79.8% of the estimate and equal to 98.4% over the same period.

Overview of the regular meeting of Nghe An Provincial People's Committee in October 2020. Photo: Thanh Duy

Land use fee collection was VND 3,446.94 billion, reaching 137.9% of the estimate, up 38.1% over the same period in 2019. Revenue from import-export activities is estimated at more than VND 915 billion, reaching 50.9% of the estimate, equal to 69.4% of the same period in 2019.

Budget expenditureEstimated implementation in 10 months is more than 21,583 billion VND, reaching 79.6% of the estimate assigned by the Provincial People's Council for this year of 27,118.85 billion VND.

In particular, despite difficult conditions, Nghe An still arranged development investment expenditure of more than 5,932 billion VND, reaching 90% of the estimate. The remaining amount was arranged for regular expenditure of more than 15,204 billion VND, reaching 75.7% of the estimate and reserve expenditure of 446,955 billion VND, reaching 100% of the estimate;...

In the last months of the year, Nghe An determined to continue focusing on effectively managing budget revenue and expenditure, including directing the implementation of solutions to manage and carry out financial and budgetary tasks in the last months of 2020.

A series of solutions have been proposed such as strengthening revenue management; preventing revenue loss and transfer pricing; strictly managing tax refunds, handling and recovering tax arrears; forecasting and assessing the impact of the Covid-19 pandemic on the implementation of the State budget collection task in the area to have appropriate solutions for directing and managing collection; striving to complete the assigned State budget collection task in 2020 to the highest level.

On the other hand, Nghe An strengthens the practice of thrift, combats waste, arranges, cuts, reduces, and extends spending tasks that have been arranged in the 2020 budget but are not really necessary to 2021 and the following years to focus on spending to ensure social security, support to overcome difficulties for production and business after the Covid-19 pandemic, investment and development,...

A corner of Vinh City, Nghe An. Photo: Thanh Duy

Regarding the general overview, in the past 4 years, Nghe An's annual budget revenue has met and exceeded the assigned estimate. In particular, in 2019, the province's budget revenue reached its highest level, reaching 16,609.5 billion VND. In 2020, the province strives to collect about 17,500 billion VND in the national budget, however, due to the impact of the Covid-19 pandemic, implementation has encountered difficulties.

Therefore, the budget revenue realized in the first 10 months of the year demonstrates great efforts in budget management of the province in the context of the global pandemic deeply affecting the global, regional and national economies, as well as Nghe An province./.