Budget overspending exceeds US$3.43 bln in five months

The state budget overspending hit VND74,800 billion (US$3,434 million) in the first five months this year, accounting for 33 percent of the year’s estimates, reported the Ministry of Finance.

The Vietnam State Treasury’s branch in Thai Nguyen province (Illustrative photo: VNA)

According to the Ministry, the five month budget revenue was estimated to reach VND380,760 billion, up 7.9 percent over the same period last year.

Of these, domestic revenue was up 16 percent to VND283,190 billion, crude oil revenue down 34 percent to VND30,300 billion, and export import up 6.5 percent to VND66 trillion.

Investment and development expenditures touched VND72,980 billion, a year on year increase of 8.8 percent. Debt and ODA payment surged 23.2 percent to cost VND64,870 billion.

Expenditures on socioeconomic development, national defense, security and administrative management moved up 5.1 percent against a year ago to break VND313,900 billion.

By Quang Minh – Translated by Hai Mien

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(Illustrative photo:SGGP)

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