State budget revenue for 9 months is estimated at 94.8 trillion VND

Ensuring a balanced budget

In September, state budget revenue is estimated at 94.8 trillion VND, cumulative revenue in the first 9 months of 2022 is estimated at 1,327.3 trillion VND, equal to 94% of the estimate, up 22% over the same period in 2021 (central budget reached 93.4% of the estimate; local budget is estimated at 94.8% of the estimate).

Of which: Domestic revenue in the first 9 months of 2022 is estimated at 1,045.8 trillion VND, equal to 88.9% of the estimate, up 18.8% over the same period in 2021. Revenue from crude oil in the first 9 months of 2022 is estimated at 60 trillion VND, equal to 213% of the estimate, up 103.5% over the same period in 2021, mainly due to the sharp increase in oil prices.

Revenue from import-export activities in the first 9 months of 2022 is estimated at nearly VND 216.5 trillion, equal to 108.8% of the estimate, up 22.1% over the same period in 2021, on the basis of: total tax revenue is estimated at VND 329.5 trillion, equal to 93.6% of the estimate; VAT refunds according to the regime are nearly VND 113 trillion, equal to 73.8% of the estimate.

Besides, total balanced state budget expenditure in September is estimated at 132.7 trillion VND; accumulated expenditure in 9 months is estimated at 1,086.3 trillion VND, equal to 60.9% of the estimate, up 5.4% over the same period in 2021.

State budget expenditure tasks are carried out according to estimates, meeting the needs of socio-economic development, national defense, security, state management and payment of due debts, ensuring funding to overcome the consequences of natural disasters and epidemics and social security expenditure tasks, taking care of beneficiaries of salaries, pensions and social allowances from the State budget.

Regarding development investment expenditure, the total capital plan for 2022 assigned by the Prime Minister is 542.1 trillion VND; in addition, localities have assigned local investment capital plans (from sources of increased revenue, local budget surplus, etc.) to increase by about 58.36 trillion VND compared to the plan assigned by the Prime Minister.

The balance of the central budget and local budgets is ensured. In the first 9 months of 2022, 114.8 trillion VND of government bonds were issued, with an average term of 13.72 years and an average interest rate of 2.62%/year.

Overview of the September 2022 work meeting. Photo: Duc Minh

Insurance market maintains positive growth rate

The insurance market maintained a positive growth rate in the first 9 months of 2022, specifically: Total insurance premium revenue is estimated at VND 176,574 billion (up 15.49% over the same period in 2021), total assets are estimated at VND 790,627 billion (up 18.95% over the same period in 2021), reinvestment in the economy is estimated at VND 653,443 billion (up 19.23% over the same period in 2021).

In September 2022, corporations, general corporations, and state-owned enterprises divested capital from enterprises with a value of VND 48.3 billion, earning VND 109.1 billion, and 01 unit failed to divest capital. In the first 9 months of 2022, corporations, general corporations, and state-owned enterprises divested capital from enterprises with a value of VND 466 billion, earning VND 2,289.5 billion.

Conducted 53,784 inspections and checks

In the first 9 months of 2022,Inspector of the Ministry of Financeand specialized inspection units under the Ministry have conducted 53,784 inspections and checks; examined 645,325 tax declarations at agency headquarters; recommended financial handling of nearly VND 10,807 billion (of which: recommended to recover and pay about VND 10,213 billion; recommended to handle other finances about VND 35,304 billion; administrative sanctions about VND 3,034 billion); the amount collected and paid to the State budget is VND 7,756.5 billion.

Gasoline and oil prices continue to fall sharply

In September, some items increased in price such as cement and construction steel; some items decreased in price such as fertilizer prices, pork prices, gasoline prices... Last September, the average price of gasoline and fuel oil in the world in September decreased compared to August 2022, the prices of other oil products basically remained stable.

Based on fluctuations in world gasoline and oil prices, the Ministry of Finance has coordinated with the Ministry of Industry and Trade to manage domestic prices to decrease consecutively through 3 management periods in September.

Accumulated from the beginning of the year until now, through 26 periods of domestic gasoline price management, gasoline prices have increased 13 times, decreased 12 times and remained stable once; diesel 0.05S prices have increased 15 times, decreased 11 times; kerosene prices have increased 14 times, decreased 11 times, remained stable once; fuel oil prices have increased 10 times, decreased 11 times and remained stable five times. By the beginning of October, gasoline prices had reached their lowest level in over a year.

Gasoline prices continue to fall sharply. Photo: Quang An

Over the past 9 months, the Ministry of Finance has provided opinions on price policy mechanisms and price appraisals at the request of ministries, branches and localities on price plans for a number of state-ordered public products and services; appraisal of purchase and sale price plans; import, export and preservation costs for agricultural goods in the list of national reserve goods and state-ordered goods, and assigned plans.

Monitor price declaration for coal, liquefied gas, sugar, fertilizer, seaport services, textbooks, steel, cement, animal feed, pesticides, vaccines for livestock and poultry.../.

According to the Ministry of Finance