Vietnam Posts Fiscal Deficit of $509 Million in 1st Half of January

Tuan Minh

09:38 28/01/2016

BizLIVE - Vietnam reported a fiscal deficit of $509 million in the first fortnight of January.

Vietnam Posts Fiscal Deficit of $509 Million in 1st Half of January

Vietnam had a state budget shortfall of $509 million in the first 15 days of 2015. (Photo: Internet)

Vietnam posted a state budget deficit of 11.4 trillion dong (roughly $509 million) in the between January 1 and 15, the General Statistics Office (GSO) reported.
During the first half of January, the country collected 35.5 trillion dong ($1.58 billion) for state coffers, or 3.5% of the year’s plan.
Of the amount, 27.3 trillion dong ($1.22 billion) came from taxes and fees, 1.8 trillion dong ($80.36 million) from crude oil, and 6.3 trillion dong ($281.25 million) from import-export activities.
Meanwhile, state budget expenditures totaled 46.9 trillion dong ($2.08 billion). Of the sum, 7.5 trillion dong ($334.8 million) was spent on investment, 33.3 trillion dong ($1.48 million) on regular spending and six trillion dong ($267.86 million) on repaying debts and aids.
Vietnam’s state budget collections are aimed at 1,019.2 trillion dong ($45.5 billion) while budget expenditures are projected at 1,273.2 trillion dong ($56.84 billion). The fiscal deficit, therefore, is planned at 254 trillion dong ($11.34 billion), or 4.95% of GDP.