11-month budget collection reached 95% of estimate

	Ten months of 2023: Trade in goods estimated at US$ 291.28 billion
	Tax sector’s revenue estimated at over VND 1.2 million billion
	Tuna exports estimated at nearly 700 million USD in 10 months

Budget spending tasks are carried out according to estimates, ensuring socio-economic conditions. Photo: Internet

Exemptions, reductions, and extensions are estimated at about 172.1 trillion VND

In November 2023, domestic revenue is estimated to reach 106.1 trillion VND, equal to 8% of the estimate, about 48 trillion VND lower than the previous month's revenue.

The main reason is that some revenues the regime allows to collect quarterly (such as corporate income tax, personal income tax and VAT of business households, profit after tax, difference in state budget revenue and expenditure, etc) arise in the third quarter 2023 of enterprises which declared and paid in October, to November the arising rate was low.

Regarding revenue from crude oil, November is estimated to reach 5.1 trillion VND, equal to 12.1% of the estimate.

Balanced revenue from import-export activities is estimated at about 15.7 trillion VND based on total tax revenue estimated at about 30 trillion VND, equal to 7.1% of the estimate; VAT refund according to the regime in the month is about 14.3 trillion VND.

In November, the Tax and Customs authorities continued to implement policies to exempt and reduce taxes, fees, charges and land rent issued to support businesses and people; At the same time, urge the collection of amounts into the state budget that have expired according to regulations.

The total amount of money exempted, reduced, and extended is estimated to be about 172.1 trillion VND by the end of November, of which about 65.2 trillion VND is exempted or reduced; extended about 106.9 trillion VND.

Accumulated for the first 11 months of 2023, state budget revenue is estimated to reach 1,537.6 trillion VND, equal to 94.9% of the estimate, down 7.1% over the same period in 2022, of which, central budget revenue is estimated to reach 96.3% estimates; Local budget revenue is estimated at 93.2% of the estimate, domestic revenue is estimated at 1,272.7 trillion VND, equal to 95.4% of the estimate, down 3% over the same period in 2022.

Revenue from crude oil is estimated at 57.1 trillion VND, equal to 135.9% of the estimate, down 19.3% over the same period in 2022.

Balanced revenue from import-export activities is estimated at 205.6 trillion VND, equal to 86.5% of the estimate, down 22.4% over the same period in 2022 on the basis of total tax revenue estimated at 332.4 trillion VND, equal to 78.2% of the estimate, down 17.4% over the same period; Value added tax refund under the regime is about 125.6 trillion VND, equal to 67.5% of the estimate.

About 760.1 trillion VND of development investment capital has been allocated in detail

Regarding state budget expenditure, data from the Ministry of Finance shows that total expenditure in November is estimated at 158.2 trillion VND.

Accumulated spending for 11 months reached about 1,502.9 trillion VND, equal to 72.4% of the estimate, up 10.9% over the same period in 2022.

Of which, development investment spending is estimated at 461 trillion VND, equal to 63.4% of the estimate decided by the National Assembly, equal to 65.1% of the plan assigned by the Prime Minister, an increase of 36.3% (about 122.7 trillion VND) over the same period, debt and interest payments are estimated at about 86.4 trillion VND, equal to 84% of the estimate, up 3.4% over the same period; Regular expenditures are estimated at 953 trillion VND, equal to 81.3% of the estimate, up 2.5% over the same period.

According to the Ministry of Finance, budget spending tasks are carried out according to estimates, meeting the requirements of socio-economic development, national defense, security, state management and payment of due debts, ensuring ensure funding for epidemic prevention and control, social security spending tasks, and care for people receiving salaries, pensions and social benefits from the state budget.

Budgets at all levels have proactively ensured the source of increasing the minimum wage (from 1,490,000 VND/month to 1,800,000 VND/month) for subjects receiving salaries from the state budget, increasing pensions and subsidies for subjects that State budget guaranteed from July 1, 2023.

The central budget has spent 12.71 trillion VND from reserves, of which 6.51 trillion VND was supplemented for ministries and central agencies; Support for localities in the Mekong Delta to prevent and combat riverbank and coastal erosion is 4 trillion VND; Support localities with funding to prevent and control epidemics and support people affected by the Covid-19 epidemic according to settlement and funding for disease prevention and control, support plant varieties, livestock, and aquatic products to restore production in areas damaged by natural disasters and epidemics is 2.2 trillion VND.

In addition, implementing the Prime Minister's Decision, the Ministry of Finance has provided nearly 21.57 thousand tons of rice for national reserves to overcome the consequences of natural disasters, provide relief and hunger relief for people during Lunar New Year and the beginning of the year.

As for development investment spending, the total capital plan for 2023 assigned by the Prime Minister is about 708.3 trillion VND. Aggregated up to the time of reporting, localities have assigned plans for increased local investment capital (from sources of increased revenue, local budget balance, etc) of about 68 trillion VND compared to the plan approved by the Prime Minister.

The total capital plans allocated in detail by ministries, central agencies and localities are about 760.1 trillion VND, reaching 107.32% of the plan assigned by the Prime Minister (excluding capital plans assigned by localities which increased, it reaches 97.72%); 21 ministries, central agencies and 23 localities have not yet allocated 16.2 trillion VND in detail, accounting for 2.28% of the plan assigned by the Prime Minister.

The Ministry of Finance also said that in the past 11 months, the balance of the central budget and budgets at local levels was guaranteed. As of November 27, 2023, 278.5 trillion VND of government bonds have been issued, average term of 12.43 years, average interest rate of 3.26%/year.