Budget collection in the first six months this year still rose 6% against the same period last year, reported the Ministry of Finance.

The result came from a strong recovery in production and business activities and the financial sector’s effective solutions to reducing losses.

According to the ministry, budget collection in the first half reached an estimated VND446 trillion, 49% of the year’s estimate or a year-on-year rise of 6%. This figure included over VND328 trillion from domestic collection, 51.4% of the year’s estimate or up15.4% year on year.

Budget balance collection from export and import activities posted VND125.5 trillion, 48.3% of the year’s estimate or a 5.1% rise over a year earlier. However, collection from crude oil only reached VND35.9 trillion, 38.6% of the year’s estimate or down 34.5%. This was due to a sharp decline in crude oil price.

Revenue of 52 among 63 localities ensured progress on the estimate (more than 50% of the year’s estimate). In addition, 57 among 63 localities had a higher budget collection than the same period last year.

The ministry said that while the budget collection met difficulties, spending was controlled closely. Budget spending in the six months reached over VND545 trillion, 47.5% of the year’s estimate. Overspending during the period was estimated at VND99 trillion, 43.8% of the year’s estimate./.

( Hoang Vy )