Spending deficit estimated at VND20.1 trillion in first four months

Vietnam’s spending deficit in the first four months of 2017 was estimated at VND20.1 trillion (nearly US$890 million), the lowest level in recent years, according to the General Statistics Office (GSO).

Official data showed that government revenues as of April 15 reached VND316.7 trillion (US$13.93 billion), equal to 26.1% of the yearly target, while spending was VND336.8 (US$14.82 billion).

According to the GSO, domestic revenues were estimated at VND253.8 trillion, oil revenues at VND13 trillion and export-import revenues at VND49.9 trillion.

On the other side, regular spending amounted to VND246.7 trillion while spending on development investment and debt payment were VND57.8 trillion and VND31.6 trillion respectively.

Recently, Prime Minister Nguyen Xuan Phuc approved the medium-term debt management programme during the 2016-2018 period with the goal of containing public debt, including government debt, government-guaranteed debt and debt of local authorities, at 65% and below.

Under the programme, the government also aims to reduce spending deficit at 3.38% of GDP in 2017 and 3.3% in 2018.

Source NDO