State revenues in the first five months reached more than 481 trillion vnd

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Domestic revenues in May were18.2 trillion vnd lower mainly due to some taxes arising in the first quarter of 2017 declared and collected in April, 2017. Photo: T. L

The domestic revenues in May, 2017 were estimated at 66.88 trillion vnd, 18.2 trillion vnd lower than April mainly due to CIT, PIT and VAT of enterprises with revenues of below 20 billion vnd rising in the first quarter of 2017 declared and collected in April, 2017 according to regulations. The accumulated revenues in the first five months reached 388.26 trillion vnd.

Revenues from crude oil in May were estimated 3.84 trillion, up nearly 400 billion vnd compared to April, the price of crude oil in the world market from the end of April, 2017 till now oscillated from US $ per barrel; the paid average price in the period was about $ US 52.5 per barrel, up by $ US 2.5/barrel compared to the estimated price and paid volume was estimated at 1.21 million tons. Thus, the revenues in the first five months reached 18.9 trillion vnd.

Revenues from import-export in May, 2017 were estimated at 74 trillion vnd after VAT refund of 41 trillion vnd according to the regulation. Total state expenditures in the first five months were estimated at 484.58 trillion vnd, equivalent to 34.8% of the estimates, up by 10.1% over the same period in 2016, in which expenditures for development investment were 76.26 trillion vnd, equivalent to 21.4% of estimates, up by 22.6%; for debt payment were 44.9 trillion vnd, equivalent to 45.4% of the estimates; up by 10.2% and regular expenditures were 362.39 trillion vnd, equivalent to 40.4% of the estimates, up by 8.3% over the same period in 2016. Expenditures for basic construction investment in the first five months were estimated at 21% (the same period in 2016 reached 20.95). The state budget capital for basic construction investment was estimated at 24.8% of the estimates (ministers and central agencies reached 31.6%, and localities reached 23.1% of the estimates), and Government bond capital in the first five months have been not disbursed.

The slow disbursement for basic construction investment was mainly due to the late allocation of state budget estimates (to the end of April, 2017, the state budget capital has just allocated to the second phase and 3.6 trillion vnd of planned capital has not been allocated; and the Government bond capital has just allocated 5.2 of 50 trillion vnd of planned capital), affecting the capital disbursement of ministries, central and local agencies.

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The balance between state budget and local budgets were basically ensured; in which the state budget deficit in May, 2017 was about 55.5 trillion vnd.