Total revenue of the State budget in January was estimated at 114.2 trillion VND (5 billion USD), equivalent to 8.7 percent of the year’s estimate and up 5.2 percent from the same period last year, according to the Finance Ministry.  

 

Domestic revenue, estimated at 95.5 trillion VND, reduced from the same period last year. The figure was equal to 98.6 percent of the revenue in January 2017, but equivalent to 8.7 percent of estimate.  

 

Meanwhile, revenue from crude oil surged 48.6 percent year on year, reaching around 4.1 trillion VND and accounting for 11.4 percent of estimate. The Finance Ministry attributed the increase to high world price, with Vietnam’s oil fetching an estimated 66 USD per barrel, 16 USD higher than expected price and 7.4 USD higher than the price in the same period last year. 

 

Revenue from foreign trade was estimated at 22.5 trillion VND, up 9.6 percent on year. 

 

In the same period, State budget spending was estimated at 91.5 trillion VND, equal to 6 percent of estimate. Debt payment accounted for 15.5 percent. 

 

Government bonds worth more than 16.5 trillion VND were issued in January, ensuring money supply for spending and debt payment.-VNA