Budget revenue US$3.48 billion beyond estimates

Minister of Finance Dinh Tien Dung yesterday afternoon said that the state budget revenue reached VND989,690 billion (US$44.12 billion) last year, up 8.6 percent over estimates, equivalent to VND78 trillion (US$3.48 billion) and 14.6 percent against 2014.

With this result, the ministry will not have to use VND10 trillion (US$446 million) of state capital withdrawal from businesses to make up a revenue shortage that the National Assembly had approved previously, he said.

About US$3 billion international bond issue which the National Assembly has permitted, Mr. Dung said that the ministry has yet to have a plan to issue the bonds because of disadvantageous interest rates due to the U.S. dollar rate increase.

The ministry will wait for an advantageous time for the issue of the bonds in order not to affect national financial policies.

In addition, Mr. Dung revealed that the ministry collected over VND1.9 trillion (US$85 million) in financial obligations from the US$800 million Metro Cash and Carry acquisition deal by Thai Berli Jucker Group on December 29.

Of these, VND1.4 trillion (US$62.41 million) will go to the central budget and the rest amount will be left for Ho Chi Minh City.

By Ngoc Quang – Translated by Hai Mien

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