State budget collection estimated at 276 trillion VND in January-February
State budget collection was estimated to exceed 276.66 trillion VND (12.11 billion USD) in the first two months, up 7.7 percent from the same period last year, according to the General Department of Taxation.
Budget Collection from crude oil reached 8.06 trillion VND in the first two months. (Source: VNA)
Hanoi (VNA) - State budget collection was estimatedto exceed 276.66 trillion VND (12.11 billion USD) in the first two months, up 7.7percent from the same period last year, according to the General Department ofTaxation.
Collection from crude oil reached 8.06 trillion VND, or 28.6percent of the estimate, while the remainder came from domestic revenue, up 6.7 percent year-on-year.
The general department attributed the result to controlledepidemic situation across the country and recovering production and businessactivities. The Government's support policies have proved effective, with thenumber of businesses resuming operations in January this year increasing by195 percent annually.
During the period, a number of major contributors to the Statebudget recorded good annual growth, including processing and manufacturing (up2.8 percent); production of electrical equipment (11.5 percent); clothing production(11.4 percent); and metal ore mining (21.9 percent).
In addition, export turnover expanded by 1.6 percent, whileincreases were seen in the number of newly registered enterprises, investmentcapital from the State budget and foreign direct investment. Domestic consumption demandalso soared in the last months of 2021 and in January 2022./.
As of the beginning of December, Hanoi collected over 255 trillion VND (11.12 billion VND) for the State budget, surpassing the target set by the government by 8.3 percent.
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Surging crude oil prices and earnings from real estate have pushed up Ho Chi Minh City’s state budget collection by nearly 15 percent in the first two months of 2022, as compared with the corresponding time last year.
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Budget Collection from crude oil reached 8.06 trillion VND in the first two months. (Source: VNA) 
