VINACHEM

The State budget revenue from January to September 2020 reached VND975.3 trillion, meeting 64.5% of this year’s target and falling by 11.5% compared with the same period last year, according to the Ministry of Finance.

Of the figure, domestic revenue was VND812.4 trillion, meeting 64.3% of the year’s target and declining by 8.3% year-on-year. The figure was the lowest in recent years.

The Vietnam General Department of Taxation said the drop in the State budget revenue was a result of the economic impact of the Covid-19 pandemic and the Government’s rescue and stimulus policies.

The country earned VND134.55 trillion from imports and exports between January and September, meeting 64.7% of the year's target and down 20% year-on-year.

Revenue from crude oil reached VND27.5 trillion, meeting 78.2% of the year’s estimate and down 40% compared with the same period last year.

The state spending in nine months was over VND1.1 quadrillion, rising by 8.1% year-on-year. The Government spent VND17.49 trillion on Covid-19 fight and rescue packages.

The budget disbursement for new developments in need of funding reached nearly VND269.2 trillion, meeting 57.2% of the year’s target. The disbursement rates of some ministries and localities were below 30%. - SGT-