Revenue from crude oil reaches 43.1 percent

Ministry of Finance announced on March 3 that the total state budget revenue for the first two months reached over VND 160trillion, up 2.4 percent over previous year.

Crude oil price has been on the downtrend causing the revenue of crude oil falls sharply- Photo: SGGP

Of these, the revenue from domestic market was VND 140trillion, equal to 17.8 percent of the expected revenue. In the first two months, the revenue from domestic market reached only VND 55,5trillion, equivalent to 65.7 percent in January.

The budget revenue from crude oil fell to reach over VND 3trillion in January, the number is estimated around VND 2,7trillion in February. For the first two months, the revenue from crude oil reached VND 5,770billion, equal to 10.6 percent against expected calculations and 43.1 percent comprared to the same period last year.

According to ministry of finance, the crude oil price in the world has been on the downtrend. The average crude oil price in February was US$ 29.79 per , a decrease of 6 percent compared to last month. 

Cam Nhi -Translated by T.Tran

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