State budget revenue for first seven months reaches over VND386trillion

The total Vietnam state budget revenue for July came in at more than VND 51.5 trillion, raising the figure for the first seven months of 2011 to more than VND 386.7 trillion. The rise represents a year-on-year increase of 21 percent, reported the Ministry of Finance.

Domestic tax collection rose by VND 7 trillion from June and reached nearly 62.3 percent of budget estimates. An increase in the domestic tax collection was due to July being the month for enterprises to enumerate and pay income tax for the second quarter of 2011.

State budget spending in July posted an estimated VND 58.6 trillion, including VND 11.2 trillion spent for investment and development and VND 7.89 trillion for aid payments.

State budget overspending in July was estimated at more than VND 7.1 trillion./.

(CPV)

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